Ann: PMI Announces Interim Order For Merger of Eq, page-29

re: Ann: PMI Announces Interim Order For Merg... Disco
The other main point to understand is in regard to your observation about Keegan outperforming PMI. Keegan is not listed on the ASX so does not have the drag. What I mean about drag is that the ASX is run by bots and instos who are only interested in the big caps. So you do not have any instos with the ability to pick up any loose stock. I bet there has been as many sellers in Keegan, just the Canadians have picked up the cheap stock. I own other stock on the ASX which I would regard as mid cap and going nowhere even on good news. What is happening is that overseas companies who are not short sighted pick up these Ozzie bargains. While a few fund managers get rich on bot trading the future for mid caps look bleak as they struggle to find funds and retail investors play against a loaded hand. Value will shine through and I would not be suprised to see another player enter the ring, backed by Maquarie.