Interesting announcment.What is it telling us that we didnt...

Interesting announcment.

What is it telling us that we didnt expect, not much .

I think every shareholder knew they wouldnt meet the deadline to repay the debt in the next 38 days .

To think they were on track in this regard with the lack of current sales was not logical.

With the asset sales the market understands they are behind as a result of the US and Australian economic enviroment and this is why the share price is 20c not 50c

The interesting part I got from the news was that they made clear they would be open to capital raisings , and a restructure, on that basis I think they are also saying the board would support a takeover bid if anyone is interested , and at these prices a large international or local fund manager could get a very nice book of assets for a lot less than they would of expected.

I have increased my holding today at 19c seeing this news as good for a short term punt.