I havent posted on the CUS thread for quite a while having...

I havent posted on the CUS thread for quite a while having largely exited CUS at $2.50 before the violent drop. I have dipped back in over the last few days around 1.95 and follow the ATM market with some fascination. Anyway, I think all CUS holders or would be holders should take a look at ICPs recent earnings announcement. As a voluntary disclosure I bought into ICP at .41 this morning. The announcement is rather bullish and includes a forecast for EPS for FY11 of approximately 8cps. That puts ICP on a current year PER of 5 compared with a CUS current year PER of 12 (assuming FY11 EPS of 16cps). I dont think that ICP is currently in the same class or category of company as CUS and should not be trading on a current year PER of 12, however I dont think the significant valuation gap is justified based on the recent earnings guidance to the market. Say even at a PER of 8 you are looking at .64 cents a share, compared to the closing price today of .42. One thing I am confident about is that on a short term basis there is more share price upside risk in ICP compared to CUS. All just unqualified opinion so DYOR etc etc.