Baffling stuff., page-29

Saci I have noticed you before and thought you appeared a saavy trader but had a held / buy sign since above 10 cents from memory. Going against the grain for you.

But back to your question on high volumes today.

I suspect with risks of receivers being brought in particularly with the Barristers memo fear card today I reckon as well as lot of just sellers getting out had lots of short covering (I suspect the higher closing auction also reflected short covering). If continues to trade suspect with short covering could even bounce from here but not that a novice like me would contemplate interest in that.

At this point either one of two things happening....
1) They are madly working all nighters to get a recapitalisation plan agreed which includes quarantined asset sales (which banks would most prefer to see maximum opportunities to sell any businesses and assets to get their cash); and on former would have to be some agreement to use some asset sales proceeds for immediate working capital as well as repaying banks I would have thought, some significant debt for equity swap....ie get debt significantly down.
2) Planning for receivers to be brought in.

Now if you believe management (cough...) you would believe ?...And if you believe the share price you would believe?

Shareholders have been in the dark for some time and only lenders and Slaters Senior Management really know what is going on.....and it is a lot what one finds out much later what is really going on....good luck with your position as you sure are a risk taker.