Just had a peek at the Appendix 3Bs of both SRT and WPI. So did...

Just had a peek at the Appendix 3Bs of both SRT and WPI. So did a few beer mat calcs.

WPI has 38% of the number of shares on issue that SRT has. Fully diluted, this number drops to 36%.

So on this basis, taking into the curent share prices of both companies, WPI at 3.5c is priced like SRT at 1.2c.

On that basis, unless the SRT acquisition is a fizzer and not the 20c play the Walker has said, I can only see significant upside from here. A couple of months ago, SRT ran up to 2.2c on hopeful expectation. I think WPI is at the same stage as SRT back then with the added potential of upside from SRT success.

So minimum comparative fair value is around an 85% gain to take it to an SRT 2.2c equivalent.

This results in WPI at 6.5c now with an assumed acquisition on the horizon of a couple of month away.

Of course there are other factors like a smaller free float here and also what SRT does for Walker's rep.

Lets see what unfolds.