am i understanding this correctly, page-3

That is unless he has confidence of what is around the corner??

Depends how you look at it, but yes at this point in time, it's quite a big loss on paper - but at this stage its only on paper

A positive is that the announcements released late June were quite positive and hopefully there are more in the works.

The sp is being dragged down like every else through current market sentiment, but things can change quickly.

I'm waiting...and hoping...