doing fine

CEU is bumping along fine given the current market turbulence. If you look at TCL for example, it's SP dipped in the months before its opening. Interestingly TCL was in a much tougher public position than CEU is in now.

When TCL opening in the late 90's, there were NO toll roads in Melbourne. TCL was the first. So TCL had to:

1. Get people used to the idea of toll roads and using them.
2. Get people to understand and buy their electronic tag device.

By contrast, CEU:

1. Doesn't have to convince people of the merit of toll roads.
2. Doesn't have to educate people about electronic tolling or the way the tag work.

Added to this CEU get to piggyback onto all the TCL customers who already have the TCL electronic tags.

I see very little downside. $1.50 is probably a fair price given current market conditions. But $2.00 will be no problem once it opens and its up and running.

$2.00 by July and $2.50 by Dec.