Ive just got off the phone with a property developer aquaintence...

Ive just got off the phone with a property developer aquaintence and he tells me that the share price will move once the deal is solid- his advise is that if I believe the buyers will complete due dilligence and proceed then buy now as these prices dont represent or reflect the true deal in the process- price wise he agrees that with a PE multiple of 4 to 5 would give you a 20c value however allow for the lag in share price 8c is a fair price right now - interesting - i asked him if he would buy these shares and he said probably not until the deal was squeeky clean- he is risk adverse