I hope it goes back soon.If it stays at 28 cents or higher the...

I hope it goes back soon.
If it stays at 28 cents or higher the remaining 27 cents deal for the rest may go through.The directors say it should for the company' s good, that is debatable(see below).I hope they sell some of those darned car parts firms and give Nylex cash to reduce debt.

The Federal Government really have stuffed up Nylex as much as they could by free trade agreements, lifting tarrifs and anything else they could do to ruin anything that gives Australia a chance to produce its own needs and be a bit self sufficient.

It would also seem the banks who heavied Nylex for the money which caused the 27 cents capital raising was cruel and totally unwarranted.It was at such a bad time in a short week of panic over oil prices.

If Nylex can rise up again they should pay down the debt to zero and tell the banks to get lost.The rest of the 27cents deal go ahead or not, but there should be TRANSFERABLE RIGHTS ISSUE to get banks to buzz off.

Then in the future Nylex should concentrate on keeping the DEBT ZERO and NOT LIVE BEYOND THEIR PROFITS.THEY SHOULD LEARN THAT DEBT IS NOT THEIR FRIEND BECAUSE BEHIND EVERY DEBT IS A BANKER WITH A BIG STICK.