sorry it was late at night - by the time i realised i was too lazy to correct myself and opted to go to bed instead haha
but what i meant in my head is that the loss was not attributed to EBITDA being eaten away by interest .. rather it was the EBITDA that was downgraded by other factors that i mentioned prior to that comment.. and the interest as well as depreciation/amortisation ate away at what was left of the EBITDA. So long as volante bears fruit and results in efficiencies and more business.. the interest is well worth it.
Had it not been for the other factors interest and depn/amort would have not resulted in a loss.
i think management have a point to prove this year.. no more stuff ups. half yearly guidance will be a key indicator to look out for. however with the top line as at 4 months to Oct 07 ahead of forecast.. looks to be a positive kick coming early 08.
hunter hall look to increase their stakes in CDR as they'd like more of a say in the mangement team at the next AGM.
despite no 'white knight' coming along - CDR has a lot of room to recover from the 'fire-sale' outcome thrown around by the media. cannot see it with a market cap of 75m for long as the fears of going concern fade away.. and will be diminished by half yearly and FY08 full year results.
CDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
