re: depression - surprising - still a profit So over five...

re: depression - surprising - still a profit So over five million 57c rights for FXR and over six million options for FXROA at one cent were not taken up by holders. I was planning to apply for more (there was a shortfall application form as well) but I did not have the cash at the time.

It would still have been profitable, as FXR now can be sold for 51c and FXROA for 12c giving a total of 63c or an 8% profit within a month or so. There will, I guess be an overhang now for a month or two if the underwriters (Findlay & Co) take it all up. Possibly seeing FXR trade down to just under 50c and FXROA to around 10c at which they break even or make a small profit. The 500,000 extra options at 1c Findaly would get will help out (cost $5,000 and sell for $50,000).

I don't understand the oblique references made in the previous few posts (Melbourne boys etc).