Just back from a workout. It was an easy workot as my mind was on CNP/CER.
I don't think the question is will CNP obtain an extension. Fundamentaly, nothing has changed except some limited sale of assets and payment of interest. I think the question is will the banks be done with this 3 month extension business and make a committment for an extended period in the vincinity of 12-24 months. Given they got bailout $$$ towardsthe financial sector, I can't imagine CBA doing what will ultimatey hurt them considerably n public opinion, closure of accounts, precious Comsec. This is not Opes vs ANZ here... As for indicative price a assuming extension, the three previous support levels were 0.23, 0.50 and the high of 0.65.
Having been burned by AFG, RJT, here is hoping for a reprieve!!
iPod SALMON HUNTER CER position only)
CNP Price at posting:
8.7¢ Sentiment: None Disclosure: Not Held
