comparable valuations, page-4

BS9.

In response to your comments pertaining to PNA they have merit.

Big difference is that PNA have competent management and have never failed to deliver.

Another poster on the PNA thread just underscored the importance of their raising, with comments from the CEO that hinted to the banking syndicates lack of knowlege pertaining to the operations. Effectively, in his words he said that 'we'd rather have a cornerstone investor than a syndicate of banks who have security over our assets when we're adding value to them.'

As was stated by an earlier poster, Madeuspoor had no credibility with his bankers, and OZL were rogered into doing whatever they were told.....there was absoltuely no bargaining power and at the end of the day the asset sale I believe was the only thing that would stop the banks appointing.

I haven't lost that much thankfully, but will certainly be content once the incumbent management team and board piss off......