Injecting some facts curiously overlooked in this bashing...

Injecting some facts curiously overlooked in this bashing exercise.


PWT's half year $m figures read

HY Sales EBITDA
2003/06 58.5 +4.4 (est)
2002/12 58.4 +3.1
2002/06 44.1 -5.5

Although the June half sales look flat, the announced $16m new sales in the first 4 months suggest continuing growth a little bit later.

Both UEC and AMM have EBITDA at ~30% of sales, so if PWT stopped trying to expand then its annual EBITDA would tend closer to a healthy $20 or $30m. or more. About the only way Katrina Walker's unnamed Macquaries Equities analyst can cite going concern concerns is through the bugle of vested interest.

As to these insane price calls. Are you lot blind?

The proposed debt to equity conversion has a strike price of 2.42 cents per share.

From the trademark vague announcement I assume that transaction FOLLOWS the rights issue.

If so then for each current share, an additional 1.5 cents gives you 2.5 shares valued at 2.42 cents each.

So the current PWT fire sale price is 4.55 cents
(= 2.5*2.42 - 1.5 )


This mob, well connected to jaundiced journalists is trying to steal PWT.

If you forgo your rights entitlement your monumental stupidity will reward them further.

If you panic sell some HC posters could be very enthusiastic buyers.