top 20 27.02.12, page-4

The interesting thing about instos is that they are not a bit daunted by the threat of delisting.

In fact, WNI would think twice about delisting. Once delisted, they can't continue to mop up on market and be completely at the mercy of dissident shareholders who can demand hand over fist the price for their shares.

I think the sp may creep past $2.6 tomorrow and reaching $2.8 by Friday. Next week will be in the $3 territory where they may start getting so bites.

As I said from day 1, the BS valuation of $3 ($1.5 cash + $1.5 dunny paper) was to condition holders that $3 is fair value in case they need to buy us out on market.

Anyway, we shall see.