unbelievable, page-31

TM, congratulations on making a bold and smart play by selling stock for a loss at 12c. It's all right being a loyal long term holder who won't budge until the final goal is reached, but you don't get any medals for it. First and foremost you have to think of yourself, and booking a loss, no matter how large, is, to my way of thinking, a very sound strategy when you get to buy a lot more stock soon after for the same money. To each his own, but I'm very much with you on that one. I sold all mine for a loss at 13.5c on the day they re-listed and now have far more.

Thinking, as I was earlier, about 2007, reminded me that Kagara were around $7.50 then, with about 180M shares on issue. Today they are around 31c, with over 600M on issue. Add to that the fact that Bass will probably book a larger profit than Kagara this FY and I think many would agree Bass at 9c is not the worst buy on the board.