Yeah, the Huntley recommendation reveals a degree of annoyance with the lack of disclosure and/or communication within the Co. Punishes them with extra discount for new uncertainties and lack of clear picture of what went wrong and what is required.
But overall I detect a positive sentiment in the review. But I note that there is a caveat regarding HNC pulling out. Which they dont suggest would happen, but they do indicate that it would change the outlook.
We still have no news on the stamp duty. If there was a problem, smart management would have flushed it out at the same time that they announced the delay and overrun. But are they smart?
I doubt it is a real possiblity, but failure of the HNC deal would, I suspect, see the big boys step in for the cheap long term values to add to their portfolio of options.
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