promotional effort into overdrive, page-4

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    Syringe (and your alter ego cfghster), no one is in a position to suggest if the sale process is going well or badly, since firm bids are not due until Jan. In late Jan, PHY will be in a position to judge whether the sale is going well by the number of firm bids that emerge. But the fact that the strategic review is continuing into a formal bidding process is an undeniable positive for the stock (and a big warning sign for short sellers).

    Regarding the recent ASX ann (open briefing): this is not ramping (as you suggest), but was primarily undertaken to address widespread uncertainty about the carbon trading potential of PHY, and how the company will be effected by the European scheme. JH (PHY's CEO) used the open briefing to summarise to retail investors what he has been discussing (in some detail) with potential bidders over recent weeks.

    To save yourself from further embarressment, you might want to refrain from telling us each evening that you are going to 'take a big short position tomorrow'.
 
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