The next announcement is likely to be the finalisation of the...

The next announcement is likely to be the finalisation of the deal. If local investors are waiting for a cheaper price via cap raise, not sure they will get the opportunity. Since Layton has come on board, his preference has to be place to insto or sophisticated investors to get the job done.

Market still sceptical, need to remember small End is still pretty crappy. Market won't believe until deal has been done. They have been promised blue sky before.