pussinboots,I don't think anyone is, or has under estimated...

pussinboots,

I don't think anyone is, or has under estimated Avoca.
Perhaps the under estimated one has been Ramelius itself from left field.
Right now the minyon is in the box seat and the big player is saying it has thrown the last dice with an ultimatum to DIO shareholders which an hour later gets scuttled again from left field, again by Ramelius, with a 24% defecit.

Someone rightly posted that AVO should have simply extended the offer but they seem to have under estimated the Golden Horse from Kal.

Sure AVO can book a profit (although they have said they will not) but this was not part of its plans in the first instance. The focus was to get DIO and with the 24% head start, the sprinter is likely to beat AVO to the line.

As they say -- "it's a jungle out there!"