high risk but potentially big returns, page-5

I don't know, however looks like not being greedy payed off for me.

I had nothing against the rights issue, however I did not wish to invest more at the stage GNS is in, not without a JV anyway.

I considered they made too cheap a deal with Chandler. My only thinking was that a JV was not looking promising and they sold their souls (along with GNS investors) in the hope this prettied them up. As a promising JV would have dictated that they wait until after such to make a rights issue at a higher value, well that's IMO anyway, I may be wrong.

IMO Chandler is in a win/win whether GNS make it or not. Either way he may not lose. That's the kind of deal anyone would like to make.