Cmon, if you do send them a letter, you could ask them why they...

Cmon, if you do send them a letter, you could ask them why they published a report with EBITDA of $9m in the year to June. I mean even in normal situations analysts will run their forecasts past the company before publishing themselves. Here AKK has released the report themselves, made some minor amendments, suggesting a degree of control over content, and then re-released with the numbers wrong.

I don't know what the right thing to do here is. I'm glad I've split this one into long term and trading. I would say though that broader markets are definitely something to watch out for in the short term. The high yield markets have weakened very quickly. They could of course bounce straight back. But if they stay weak, and AKK's bonds deal is not done yet, I think its extremely unlikely to happen.

I come from the HY world. The liquidity disappears super quick in credit markets. The bull market deals, and project/resources bonds definitely fit into there, get pulled first. The problem is in those markets everything moves together. Suddenly everyone is losing money and wants to cut exposure and fall back to high quality names.

Although info was scarce in the quarterly, the major theme I thought was need for cash. I think the post the other day saying there could be a big rally on being funded is probably right. The opposite may be more likely though if global markets weaken for another week or two.