shares are extremely undervalued at the moment, page-3

njpoy,

I hav been a long term holder of PBD all the way up to $4.30 and put more money in the capital raising in Jun 07 at $1.60. I was recently in Mandurah and noticed the Point Grey development moving along. It's a massive, massive piece of land and PBD have done a fantastic job on the landscaping, etc.

I do have one concern regarding the development that's not in the control of the company (sigh), its regarding the amount of houses for sale within the mandurah area and particularly the Port Bouvard area, (which is located on the western side of the estuary, point grey is on the east). It seems as though every second house is for sale and there are literally hundreds of blocks for sale in the Port Bouvard east & west sub-divisions (the original canals).

I think this with the combination of the housing downturn in WA is weighing much heavier on the stock than their gearing.

I hope this helps, I'm kicking myself for not getting out at $4+

Regards
P