I thought this was a gift at below $1.50 following the recent...

I thought this was a gift at below $1.50 following the recent capital raising.

One of the reasons CDA appeared traditionally cheap was the lack of free float - the cap raising increased it significantly (about 60% from my calcs). That puts it on the radar of a whole lot of investors who might previously have rejected due to lack of liquidity.

The forecast doubling of first half profit suggests the full year forecast remains conservative and risk is to upside. So we are getting the double whammy of increasing profits and re-rate to PE.