Oz - yes, most definitely a lot of 'ifs' that have to fall into...

Oz - yes, most definitely a lot of 'ifs' that have to fall into place for such stocks. I guess that helps explain why they're still so cheap. And some of the others on the Eureka Report list have even more 'ifs' attached to them than Amadeus. At least with an oil/gas producer/explorer I can get my head around what they do and whether they're doing it well. With more emerging technology-type companies this can be considerably more difficult.

Kwaidan - yes, I think Haselhurst has done well trading in and out of AMU at different times. He also put me onto FXL at the low-point of its share price about 18 months ago and its since been one of my best performers.

I see AMU (and FXL for that matter) feature in the AFR today in the Smart Money section in a yarn about small cap gems. Well worth getting hold of a copy if you like speculative small caps (the weekend edition June 19-20 - should still be on sale tomorrow) as they have a list of 50 potential small and mid-cap value plays ranked with their market cap, forecast P/E, PEG ratio (price/earnings growth) and price-to-book ratio. AMU appears to be a star on all fronts (other than market cap, of course, thanks to the lowly share price).

Seems positive mentions for AMU are coming up everywhere all of a sudden. Which reminds me - Oz there was no mention of the takeover speculation in the ER yarn. Suspect it was written before the ANN about the unsolicited approaches.