Summary:For the figures below I have attempted to factor the...

Summary:

For the figures below I have attempted to factor the recent $460m SPP into the former net CA deficit.

Est recent cash or net CA: 180
Est recent tangible realizable asset gearing: 35% (43% reported)
Est recent NTA/sh: 1.66
Est recent PE: 1.5
Est forward PE: maybe 4.8 judging by last half year.
Est recent div/sh: 0.13
Est forward div/sh: maybe 0.06 judging by last half year.
Est debt/equity ratio: 98
Est average price of 0.32 for 4.1% of issue traded in last 20 days.
Est average price of 0.31 for 1.4% of issue traded in last 8 days.
Volume today est 135% of 100 day average volume.
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I snaffled a few more of these before the close today, hoping for reasonable rebound next week.

Company is a little too complicated for me, so if anyone can set any of my figures straight, or add any pertinent info, that would be appreciated.

Profile:
Property development and investment.

63 income producing investment properties: 42% Office, 53% Industrial, 4% Hotel, 1% Car park.
99% leased.
Avg lease 7 years.

10 investment properties under development.

Avg debt 1.7 years.
43% geared.
Needs to refi 563m by 200906.

The chart shows a classic builders crack bottom around 20 days ago, and I am hoping that is is a confirmed builders crack, as there is nothing worse than a double bottom on a builder.

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NB - Please DYOR, my research can be dated and inaccurate and I have frequently been proven far more incompetent than I believed myself to be.
This is not financial advice. Merely my potentially flawed reasons for being interested in the stock. My gearing ratio is unconventional.