You are 100% correct.
I have bought again this morning.
I am patient....and happy to wait 12 months for 20% plus returns. This time next year when they announce that they will pay dividend 2006.....the stock will fly, and having held for over 12 months my max CGT rate on today's purchase will only be 24.25%.
Macquarie still has a target of $1.50 by October-November this year.
Kiril
