Ann: Completion of Senior Loan Refinancing and Eq, page-13

re: Ann: Completion of Senior Loan Refinancin... I hear you, I am also a holder of TLS, 260 really has proven to be a bottom. Fundamentals are looking brighter as well.

I bought AJA under 31c and feel we are near the bottom particulary since the last capital raising where an insto pumped in 23 million at 3.09

TLS has great gearing potential and a fully franked yield of 10% but is unlikely to see over 3.00 in the next 12 months IMO.

AJA has much lower gearing potential no franking and a yield of around 14%. The fact that it is amortizing debt and retaining earnings means that it is improving NTA without revaluations. If we get a positive revaluation even if slight,because of the gearing will improve NTA substantially and hopefully in the case of reasonable revaluations a return to a more stable gearing ratio.

Most long suffering holders will hang around for the ex dividend date you would think, so can't see a dump in the short term.

AUD came off today which might explain today's close