Perhaps. I'm a bit disappointed that it hasn't made more headway...

Perhaps. I'm a bit disappointed that it hasn't made more headway on such a strong day.

I also think the sp is a warning that the likelihood of any offer or reconstruction going off anywhere near NAV is problematic.

Talking to another shareholder today who thought a take out price in relation to stated NAV should be in the range of 80-90c.

The fact that we're at such a big discount speaks for itself.

'Up 66%' looks impressive but 'down 87% on NAV' is a bit more sobering.

I hope I'm wrong.