D DawgI'll look at SFC - I do not know it at all, which suggests...

D Dawg

I'll look at SFC - I do not know it at all, which suggests it has never come up in one of my trawls for value.

That MNY with its low capitalisation of $42 million and liquidity in dollars about a tenth of TGA should enjoy a higher P/E ratio to TGA, simply puts it in that horde of companies that by comparison make TGA look under valued.

In the last two or so weeks the consensus estimates for TGA have dropped slightly for 2013 and 2014, but I do not know why. No new information has been published that I know of that supports the slight change.

We are only a week away from TGA's year end, so folk in the know will be well aware of the accounting results to be expected, but even these can mask what is happening. Investment-style expensing can easily make things look worse, as can amortisation, provisioning and similar "rubbery" accounting constructs. We will have to see what the EOY report contains to get an idea of what is happening. The long-term future looks good.