relax everone, page-13

I agree with you bb. I bought in at 0.60, which I have averaged down to 0.50 by buying a few more at 0.25 last week. I am in for a bit more than I probably should be, but, taking a pessimistic view, I am prepared to take the risk that it could all disappear because the reward for if it doesn't is so much higher. Thankfully my day job can cover any losses within 6-12 months or so of saving, and I have other investments, so I am fortunate.

Kevin has said on other threads that he is banking on CNP to make him a fortune so that he can build on his land - frankly that IS ridiculous. CNP, whilst I think it represents a worthwhile risk for a small slice of one's wealth, is NOT a home run! Anyone who is putting most or all of their money into it IMO needs their head read.

I really feel for those who have held since the $5+ days of last year. You're in an invidious position.

Please don't take this post as downramping as I hope as much as the next holder that we will see a sharp rise once the extension is announced (I believe it is a monty in the next few weeks). But I have to say that I doubt we will see a huge surge in the sp. Again the extension will be merely that - a further few months for Uncle Glenn to sort out a recapitalisation of the company - that will involve pain - selling of assets (which may involve some of the blue chip Aussie property?) or maybe a fresh equity injection (although who would be prepared to take that sort of risk on in this current financial climate). CNP has been used to having distributable div's per share of 40c/share p.a but who knows what that will sit at in 12-18months time once some of the prime assest have been sold off - 20c (if we're extremely lucky?, 10c, 5c, less - wish I had my crystal ball).

I am not an accountant and am fairly new to the share trading/investing side of things, but I am not a novice at reading market sentiment. Atm, market sentiment is extremely pessimistic re cnp - that's what makes it such an enticing bargain at this sp. But this confidence at some stage is going to need to come back into the company for it to remain financially viable - who knows when that trust will come back. I don't share other's optimism that it will happen in the next couple of months.

I hold for 1-2 years, at which time i hope to be sitting on a substantial return (200-300%) on my investment - but it ain't gonna happen soon.

Cheers, Rick.