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Pancakes

262 Posts.

18/01/16

10:16

Post #: 16814853
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Originally posted by Dr.Seuss ↑

Hi Mackeral - Welcome from SRT. Judging by TUs for your post, perhaps a good few SRT holders also want to buy in?

Overvalued though? We should consider that Walker just took options with a 5c strike price. Clearly he believes that price is going above 5c.

On that point, as the options are 'out of the money' - until they reach a price that they would likely be exercised ie above 5c, when calculating the market cap they can be ignored. This wasn't the case with SRT where we had to include both SRTO and SRTOAs as they were ' in the money'

This increases the disparity between WPI today (3.5c) and SRT's peak (2.2c) before the acquisition was announced.

SRT @ 2.2c = 1.178m shares and options = $26m market cap
WPI @3.5c = 305m shares = $10.6m market cap

Looks like good room to move up over the next few days or weeks.

Expand

Couldnt agree more DR.
It looks like we will have another terrible day on the asx today, which will surely impact WPI on the buy side. But after tomorrow when SRT shareholders start taking profits and rebalancing their portfolio into WPI. We will have a significant demand with minimum supply. All IMO

Lets wait and see

WPI Price at posting: 3.4¢ Sentiment: None Disclosure: Held
4 Upvote

0 Great analysis

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