looks like 50% gain unlikely now..

There is a takeover offer for OTT at 41c, by Wayne Paslow and Macquarie Bank. They obviously see a good deal, and it looks like the existing shareholders will not benefit from the improved market conditions and a recapitalised company. (And Wayne is a legend - he sold most of his shares for a $1 to MBL, and now is trying to get them back for 41c! Beautiful!)

They already have just under 20%. Maybe some big holders can squeeze a few more cents out of it, but that will be that.