The revenue has been well document through SENS and therefore reasonably priced in. I think the following 4 things may put a dampener post interim results on 21 April: 1) Foreign purchases - Although quite well hedged, this may still have a negative impact on the bottom line; 2) Musica is dead in the water, I don't see any positives coming from that side of the business; 3) When the big boys start looking at post results, with their valuation models, a lot of the inputs to the WACC would have increased, i.e. beta; country risk spread; risk free rate and cost of debt (although they do not have any) which would spit out a lower valuation; 4) technical guys may object, but seems like they are hitting a ceiling around the R100 mark, so they would need fairly strong results to push through this barrier. Note that this is my high-level analysis. Interested to hear what everyone else thinks?