Thanks for that as I was going to go hunting for this after seeing the call made last week.
Guys to me this is a great thing for him to have us at 48c. He's is one of the most harsh valuers in the country and doesn't like many companies at all from a pure 'what would you purchase the company for' style of valuation. He only really bangs on about The Reject Shop and JB HiFi as being sound businesses and doesn't like the likes of RIO, BHP and many others. He also said that Wesfarmers overpaid for Coles by double (shares have rocketed the past year) and the list goes on, actually if you hear him speak of most companies they are all over valued.
So for me to see this and have him actually pricing us at 48c gives me great hope that we are on a winner for sure. He is a tough guy to get any stock to pass and have a value put that is higher than they are currently.
Thanks, just my thoughts.
IDL Price at posting:
38.5¢ Sentiment: LT Buy Disclosure: Held