rdf in europe, page-9

re: ris rdf making the dollars ??thanks h, I hear there are a number of institutional type buyers active in the stock, pretty obvious a week or two ago with a lot of 20K and 25K buys going through. There apparently is one buying quite aggressively through a small Sydney broker.

As Paul has said a lot of these buys are going into long term hands, at a guess well over half of the 83 million shares on issue are already with firm holders and it is odds on we are seeing the start of quite a scrip shortage. With the admission into the ASX 300 index some funds have to look at the stock, probably by year end it will go into the ASX 200 and there will be nowhere near enough stock to satisfy demand at anything other than very high price levels. I think Paul's pe of 20, even 30, may prove with hindsight to be a bit skinny.