Forum Archive Index - October 2001

["Michael Phillips" <michael.p@paradise.net.nz>]

beanmills wrote:

> Despite searching news sites I can find no reason for SUB's
> descent (price not submersible)other than cash running out.

I think the lack of news in the marketplace about progress toward
operations was a contributing factor.  Probably the lack of liquidity in
SUB meant that whoever needed to realise some cash fast had to do so on
the terms of the buyers.  I see that both buy and sell bids are sitting
above the last traded price for the stock.

> Any news out there?

Today I received my copy of the annual report, so hopefully you have
too.  The covering letter provides more information as to the progress
toward announcing a start date.  With luck that will be soon after the
Maritime Safety Authority final check-off visit on November 5.

Regards
Michael
===


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