Sorry, just checked the announcement, there will be 3.5 billion...

Sorry, just checked the announcement, there will be 3.5 billion shares out there if it all goes to plan so an SP of 5 cents would be a market cap of $175 million. They'd have to demonstrate an EPS of at least 0.5 cents, probably more given the level of market confidence generally and in VDM. Not impossible but for anyone to have faith in the numbers it'll have to be over at least two FY's, so any sustained recovery probably 18 months away IF all goes to plan and they start making a profit.

So far the company hasn't presented enough information to convince me to take part in the CR. After the last CR (which basically went to looking after the bank) the SP had a temporary spike, the big instos sold off and made a nice profit along with the broker (Patersons?)and management gave themselves a pay rise. Hopefully we won't see the same pattern this time.