It's nothing to do with Ansteel why the SP is so low. I doubt...

It's nothing to do with Ansteel why the SP is so low. I doubt the FIRB will allow them to acquire any more GBG beyond the current 36%. A rights issue is proportionate on your current holding. So a low or high price has no real benefit to Ansteel as Surly pointed out.

It is the copious amount of shorting that has killed this stock as a cost blow out has been known for a long time. There is now simply no demand for the stock and it just dwindles further and further. I feel sorry for the investor who bought 10+million shares around the 90 cent range a few weeks back.

A raising should have been done when the blowout was first revealed, instead of lying in a quarterly then revealing it initially in unannounced presentation.