If they realise the value from the GMF takeover within 6 months...

If they realise the value from the GMF takeover within 6 months their earnings per share (including the converting prefrence shares) will be better than 10 cents. That should support a market price of $1.30 to $1.40. How soon they get there depends on the time the market takes to forgive them for their problems of the 1990's. My guess is $1.20 this time next year, or as much as $1.40 then if they start paying dividends again.