Interesting to see that the Managing Director is still a buyer,...

Interesting to see that the Managing Director is still a buyer, last notice of 27 October shows he bought another 700,000 last week to add to his existing holding of just under 8 million. Not the actions of someone who sees potential bankruptcy as even an option I would have thought. There was also a 1.4 million trade at close Monday that drove it to 0.48.

The effect of recent huge movements in A$:Y exchange rate has a dramatic effect on A$ NTA. In Annual Report for year end 30 June 2008 this was A$1.39 at an exchange rate of 101.55, if you use an exchange rate of 57 this works through at A$2.47. Now they have some capital hedging that may dilute that effect, but even so this is a huge leap. Also think through effect on yen income translated into A$!

Yes I am a long term holder, waiting for those divi's to come through....