They were stupid to do a CR at a deep discount right now. Let's list the things that are hurting the SP. - end of FY tax sales - Downward trend - CR pending since low cash remaining - NDO / KIK disaster at Gindarra hurting oil specs
So now Patersons has pulled the underwriting. So they'll have to do it at 9c with a full option instead of a third.
I though they were oversold yesterday and bought a few at 10.5. Should have waited. Still think they will bounce in July or Aug.
AED Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held