chart, page-27

Hi Depth,

No doubt there are quite a few stale bulls in this one, it will need a trigger to see it re-rated for which there are a number of possiblities, commodities and resources coming back into vogue could be one, debt and an easing in bank lending could be another. It will take time but hey I've got plenty of that.

As long as she doesn't fall over and management handles the issue of costs adequately in the near time I think she'll survive rather than end up on the BNB AFG ABS scrap heap.