I can't see much reason for them to go any higher in the short...

I can't see much reason for them to go any higher in the short term - if there was any good news FGE has used it to 'soak up' some of the negatives. I'm with MM - can't see any reason why the SP isn't sub 50c. The fact that there isn't a large shareholder base (less than 90 million shares all up) is maybe helping to underpin the SP. In the last annual report the top 20 shareholders held over 67% of the shares on issue, leaving only 27.7 million held by the remaining shareholders - this is assuming (a big assumption) that the big boys are still holding their shares.

I also can't see any potential suitors rushing in - they will let FGE wallow in the mire for a while first.

The wild card is ANZ - should ANZ agree to prop things up with say a further $50m assistance package that could be positive for the SP and that is probably what they will need to survive.

My humble opinion only.

DYOR carefully.