1) General economy is gloomy2) Mark to market valuation erosion...

1) General economy is gloomy
2) Mark to market valuation erosion (ala REIT sector)
3) Div fall (from 28 to 12 cents p/a)
4) Broker down grade (to 55 cents)
5) Money being put into SE Water
6) Asset divestment when values are uncertain, but analyst still reckons $1.6 Billion in just two geat assets
7) people like you who keep suggesting that it hasn't fallen enough
8) possible distressed seller at a time when buyers for all stocks are hiding
9) convertible note repayment or conversion
10) selling breeds selling (stop losses, fear of the unknown .

It is cheap, and I reckon you know it otherwise you would have sold .