Well an interesting announcement and personally I am pretty impressed that PGC have achieved this deal with a piece of software they bought in a raw state not that long ago. At this stage there is not a lot of scope to relate this to future earnings and therefore not surprising that the market has gone a bit ho-hum over it. However Midas has gone from something of mystery to something with some clear potential quite quickly.
Maybe it will turn around the poor sentiment around PGC at the moment but I mostly suspect we are in the doldrums until we see the first half result, which they have already pre-conditioned us to being only modest.... P/E now 12 .... rock bottom?
Gosouth
PGC Price at posting:
82.3¢ Sentiment: None Disclosure: Held
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