Ann: Becoming a substantial holder, page-16

Hi skychief

Wasn't suggesting that the fall was due to the shorting.
Given the overall market i think we are doing not too badly.

Just another point with our managers versus FMG.

When iron prices were decimated and FMG was sitting under a mountain of debt and the market were calling its demise, they did not panic. In the back ground they reduced operating costs to be one of the lowest producers. It did not make any capital raising. in fact in spite of the whole market laughing at them they kept paying dividends. They pre-sold ore. They bought debt back at a discount.
Look at today's announcement. Issued debt at 5.12% to retire debt at 9.75% thereby savings heaps in interest.
What have our managers done? re arranged the reporting structure? Huge capital raising so that they will be limited to any recovery and not paying dividends. No imagination!

Nev Power from FMG has not announced where he is going (I think)., If these arrogant directors had any sense, they would approach him on bended knee to get him to come to STO.

Pear