Well for all the conspiracies surrounding what Pattos may or may not do to the SP, one only needs to look across to WKT who used Pattos under the exact same terms, once they discovered the Chinese finance they had been promised a year ago, had suddenly had the terms changed for the worse... leaving them no choice but to turn to the CR kings... Pattos as an interim measure
And yet, for all the bleeting and capitulating on HC from WKTs holders, after two weeks, the SP is right back up where it was previously. With no extra significant news.
IMO this raise is simply a result of the current global credit squeeze. Credit and investment is tight, and so the terms have changed from those willing to lend.... nothing more, and nothing less.
We can complain about all manner of things to try and justify the current SP, but IMO, at the end of the day, it’s simply a case of the velocity of money has slowed down and investors and financiers are much more risk adverse presently.
So like any market slump or down turn, these are precisely the times when those with deep pockets and excellent market knowledge jump in and quietly make the most gains.....they buy when others are most fearful.
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