Thanks Beacon and funguspudding.
I had seen that article and would agree that the management behaved in a way that is very close to misleading. Even allowing for that, the company doesn't look in that poor a shape.
A thread on Hot Copper - iif is no centro - seems to sum it up nicely. (Is it Ok to post that link here? )
http://www.hotcopper.com.au/post_thr...826063#3717677
But then again the analysts at Aspect Huntley rate it as too risky and to be avoided. And there seems to be steady institutional selling down with a number of announcements of reduced holdings.
So I continue to be confused. And cautious. But still very interested in a possible bargain....:confused: