if you want to discuss something......, page-6

Hi coppertop,

I remember reading some time ago the debate you had with someone on a similiar topic but it was taking into account sales below book value and it's effect on NTA. (effecting the value of other properties also)

Regardless, you are no fish out of water when it comes to these things so i refer you to your comment.

"Asset sales can (but do not necessarily and usually don't reduce gearing RATIO. Asset sales will reduce gearing in general but not the LVR. Note also that the asset side is reduced."

I would love to learn more and kindly request an example to help with my little brain.

However, the topic that you have brought up certainly does deserve conversation, so my 18c are:

It would definitely be a shame if CER tried anything other then just holding out till this financial crisis subsides.
There is so much value in this share it is not funny. Earning near 9c (in a bad year) a share which will no doubt be divvied up to holders in the future.

Time would probably heal CER more than anything else that they could possibly do. I would say anything else would probably be not in the interest in shareholders. I would love to think differently but that is how i feel.

Writeups when they occur will dramatically improve these LVRs. Its just a matter off paying our interest bill and making a few asset sales to show the banks that one of their BIGGER customers is still making them money.