Ii'm not as good at juggling numbers as you are, but i think that $7A is just a pipe dream at this point in time...
We are currently at 2.61A$. The short interest is still at 17.xx%. Should a TO be prepared here, do you really believe that a bid of 7A$ would come? Why have we been pushed this far to then make a bid? That would make no sense from my point of view.
Rather, you have to start from the current 3A$, this is where the shorties are buzzing around, this is possibly where they are collecting behind the scenes. If someone wanted to place a bid, it would probably be at a 50% premium, possibly slightly more. So A$4.50-5.00, that's what I would set, depending on whether PLS is still in a position to reject it, it can go on from there, I still don't see A$7...
But don't worry, this is an opinion of a small investor, so more “gut feeling” than hard maths.
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