Any rerating results in the volatility seen today. Nonetheless...

Any rerating results in the volatility seen today. Nonetheless makes you wonder what we have to do to cop a break at some stage! The rating is based on liquidity including turnover - days like this make you wonder more when a million dollars of stocks change hands. Still appears the traders are having fun - watching orders placed, followed by the same orders being pulled - back and forth. On the other side, I really doubt Ma and Pa Kettle out west bought the lot so leaves the instos who are probably pretty wrapped at getting another million at a discount of some 5% to yesterday's close. There hasn't been the volume over the past couple of weeks to do so quickly, so this is a bonus for them. Regarding the article in the previous post. Good to see some positive outlooks and the figures include conservative discounts. The big question is the MBO and still somewhat confused why the concern if Valad didn't find a buyer. Heck, I didn't realise they wanted one, and just because Hurley put in a bid doesn't mean everyone has to nor should Valad sell. I maintain the position that we shouldn't sell, irrespective of price, and any bid lower than carrying value should be outright and publicly rejected by the board. If they did sell, what would they do with the proceeds - pay off debt? - buy back stock (yeah right)? - pay a dividend (ditto)? - buy some more property? - increase their bonuses (there's a novel thought)? As far as I'm concerned, we're in a great position now to reject the offer, dump Hurley (and let him sue for the so called exit moneys if terminated without reason - I have a few good ones), and now we're out of the ASX300 can get on with business under the rating radar. Given the 20:1 consolidation and insto interest, while I doubt the likelihood, a cap raising for reasons not related to decreasing gearing through debt reduction wouldn't be a total bad idea. But would have to get rid of Hurley first. Since Valad has pretty much had the boot put in, rather than rolling over and playing dead, now is the time for a little feist. Valad themselves tout their expertise in various areas, so instead of rhetoric, they should exercise those and get on with it. How hard is it to put together a midterm strat plan including such items as 'intend to restore dividends by time X', intend to reduce gearing by Y by time Z', 'intend to increase market share by P by time R' etc etc. After all the board isn't paid the 6 figure sums to sit around and rubber stamp paperwork over a cup of tea. I work 11-12 hour days for less and do a standout job of it. How about the same from our board and a little confidence and ego (sans-Hurley) to boot?