so much for the recovery, page-11

Fat Bloater,

If it was you who short sold to me at 55c at the close, I reckon it will be you who will need the toilet paper, pooper scoopers and disinfectant.

Although the announcement was disappointing, it did not warrant a 25% one day fall nor a 35% fall over the last eight days or so, as far as I am concerned. The company has quoted an underlying profit of $3m to $9m in this announcement which does not seem overly concerning. The net tangible asset backing at $1.16 is more than twice the current share price. The revenues are around 13 times the market cap and if it does not recover surely Besix will grab it at these prices. What a great opportunity for them to get into Australia in a cheap way.

I will be very surprised if this stock is down again tomorrow. If it does fall, I will buy more.

GPASAS