We are on the same page concerning valuation. I hold a boatload of CDVOA........ but I have to point out the Cardinal fully diluted share count comes in slightly above 500m which would put the value in a $900m usd takeout closer to A$2.25 per share ( assuming no more dilution )..... making the CDVOA options I bought for A$.08 worth $2.10.... I could accept that...... good luck to all of us....