please explain why, page-4

I think the rights issue at the significant discount was probably an issue a while ago.

Interestingly, there was large buying at 93/94c on Friday.

The selling now at these prices must be those who got set at this sort of level, and perhaps feel they have done well to pick up the 11c dividend, and are now taking their money and running.

All things move to fair value eventually. I suspect this one will too.

This is trading on a 13.5% dividend yield, which is not likely to continue. They have already expressed a strong likelihood of a 11c dividend for 2007/08.