whisper, page-43

Have to disagree with a couple of points you make there mrnoidea.

Can't see how what Drona looks like has much bearing on his ability to manage a company. But that aside, your comments re an earlier cash raising are a bit harsh. FIrstly, AVX got absolutely hammered for earlier cash raisings, where people (including me) didn't like the dilution effect and suggested waiting for a deal with big pharma. Now they're copping it for not having more of them earlier on. There's never been a point in the share price drop where people have been advocating a capital raisng at that point - it was alweays a case fo the company being undervalued. Its only in retrospcet that a capital raisng at 30c looks attractive - they;d have been belted around the easrs if they tried it then.

Noone knew the credit market would dry up the way it has and I'm afraid companies with no income are at the end of the queue when it comes to getting hold of cash, be in from investors, banks or companies via deals of the sort AVX is chasing. You're right in saying the health sector is supposed to weather the economic storms well - which is why I held AVX and PXS when things starting looking ordinary. But pick 10 health-related companies at random and see how they look. Make them biotech companies and you'll see everyone is down 70%plus and many are much much worse (avx included admittedly).

My patience is wearing thin too. I couldn't believe it fell below 70c. Then was amazed when it went to the 40s. Saw the falls into 30s as a buying signal and then snapped up shares at 8c when I thought we would never see them that cheap again. I'm just waiting to see what happens like the rest of us and hoping they're doing some good behind the scenes.