PHE I like the calulation and think it is probably a fair evaluation of where the share price may move once a deal is announced.
I don't share your positivity around the raising, if we are really three months away from an announcement that will send the SP to $1.25 why are they raising now at 14c? They won't need the cash to get to that point. It speaks volumes about the board's confidence in doing a deal in the near term i.e the next 3 months.
Frankly they couldn't close a car door. I am preparing for a longer wait.
AVX Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held
