Well you might be right. Once these guys have a long term...

Well you might be right. Once these guys have a long term contract there must be a risk that someone will swoop to take advantage of the situation. As a substantial risk associated with this business may disappear.

Things are tracking nicely atm, but this is still a hugely speculative stock. The JSF contract isnt going to be enough to sustain this business. It is something like $700m over 22 years. As I understand it that is the total revenue not the processing fee that QHL will receive for its efforts. So that is less then $US35 M gross revenue per annum With the appreciation of the AUD, QHL's AUD margin must be getting squeezed and there must be a real risk that this contract will not acutally be profitable on a fully absorbed basis. Though it will generate much needed cashflows.

Signing the LTA is a huge step forward, and good news for all shareholders particularly those of us in this since the float. However, lots more goals need to be kicked to assure sucess and move this from the speculative basket. And clearly they are working hard to kick those goals and lots of opportunities appear to be on the horizon.

Much as I hate to say it, I dont believe this share price is being manipulated downwards by a potential buyer. The price reflects the risks. I love to see an EPS based valuation once the LTA is signed.