being the eternal optimist I took note that the NTA of 51 cents...

being the eternal optimist I took note that the NTA of 51 cents may very well rise over the coming year if market improve. It may be a slow process and with 'expected' $30m per annum in savings - lets say $20m to be conservative, we may very well see a share price rise quickly as the markets improve.

The bank package offered at 300 to 400 above Bank reference rates is not bad. Companies that are much more solid have pricing near here - I know this for a fact, so anyone that thinks the debt is not a good result, I think it implies that banks are happy with the asset quality and will see improvements soon....