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And that is why we call it a market - constant price discovery - opposing views and often "anchoring"

Amazing how people anchor the olde ABIL - and therefore will not touch them despite new directors, new strategy, no bank and over R1.5bn cash on consolidated Balance Sheet 

So what if the preference shares (AXLP (ABLP previously)) in a months time are trading at R24 and the company resumes paying dividends related to Prime of say R 8 p.a

- that's a yield of 33% - and the main shareholders remain Allan Gray, Coronation and PIC - one cannot say I will never touch that share again !!

Interesting how on some forums - investors are confused as to what the shares (AXL) are worth - and think that they can add the Preference Share Capital to the Ordinary Share Capital - and hence they think that the Ordinary share is cheap at 40-60c. Why would you want to pay more for cash than NAV - the NAV is around 36c - this should be discounted and therfore once the short squeeze is over the share will drift down into the 25-40c area

As for the Prefs (AXLP) - well they need to know when they are to be paid their first dividend !! - At R30-R40 they are priced for no dividends for the next 4-5 years !!!!!