At the time of last yr report Sept Yen/AUD was approx 80 since then its been as high as 105 now 92. This will drop NTA etc in AUD terms. AUD/US$ is irrelevant. Hopefully positive property revaluations in Japan will counteract this. It should still be a good investment in the long term with current share price still well under NTA.
Mr Lucas still obviously thinks so. From a shareholder perspective the question of why he got a substantial no of shares as part of the recap (which was always going to result in a big increase in the share price) is interesting to me as a shareholder. Why weren't all current shareholders also given that opportunity?
It doesn't seem to have attracted any adverse comment that I am aware of. I suppose the + effect on the price from the recap meant everyone was happy!
AJA Price at posting:
$3.32 Sentiment: LT Buy Disclosure: Held
