if Kingfisher is the beginning of a discovery, it is a question of when we will be t/o for a decent premium,
gut says they will need the next 12m to show some further exploration on KF, but MEL surely on the radar of institutional investors, who want to position before that occurs.
so, as to when they begin positioning is anyones guess.
47.5 cheap enough for mine.
MEL Price at posting:
47.0¢ Sentiment: LT Buy Disclosure: Held
