Abu Dhabi meeting with CEO, page-16

IMO, Frank Wilson's shareholding has great value to any aspiring bidder. Frank obviously wants to regain control as CEO and major shareholder with a new partner. By creating competitive tension between aspiring partners, he can pick which offers the best deal from his own perspective. This is not necessarily about the bid price for him as he already has a large shareholding. If he had stayed on as CEO with QIN, he would have been somewhat conflicted, as shareholders would be wanting the highest bid price.

All aspiring bidders will be strong believers in QIN being able to deliver on quality forest management, market expansion with growing harvests, and sale prices reflecting the growing market and near monopoly position for quality sandalwood and oil. Therefore, they would probably be in agreement with most of the analyst reports which give valuations above $3, taking a positive longer term view. IMO, they would not expect to gain control at less than $2. I for one will not sell my holding for less.

Bring on the short squeeze.