If they realise the value from the GMF takeover within 6 months their earnings per share (including the converting prefrence shares) will be better than 10 cents. That should support a market price of $1.30 to $1.40. How soon they get there depends on the time the market takes to forgive them for their problems of the 1990's. My guess is $1.20 this time next year, or as much as $1.40 then if they start paying dividends again.
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- another solid move up
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burns, philp & company limited
another solid move up, page-5
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