I am surprised at suggestions in this thread that the company is "in a mess". My opinion is that it WAS in a mess six months ago but is now in much better shape. There is no doubt management stuffed up, but the board had the sense to bring in independent advisors to review the company's problems without any of the baggage the board were carrying, and tell them what to do. They have now implemented that advice - a capital raising, severe cost cuts, and some changes in strategic direction. I can't help but think some of the posters here haven't bothered to watch the boardroom radio presentation that came out last week..... http://www.brrmedia.com/event/110379 I found it 21 minutes of my day very well spent, and added to my holding after viewing it, averaging down at prices that now look cheap.
Thanks Pecora for the Australian post. Ironic that the journo that arguably caused the sell-off into the thirties has reversed his view to a buy! Dare I speculate that his original source might have been linked to the subsequent 68c bidder???
ASZ Price at posting:
48.0¢ Sentiment: ST Buy Disclosure: Held
