excellent media coverage, page-46

riccus, TAS is a bit difficult to value. Its only value really lies in its investment in EDE. But if we were to buy TAS shares at 11c, which is TAS' approx value based on their EDE investment, we are buying a 100% distribution of an EDE divestment. In other words, if TAS divested its interest in EDE we are expecting to receive 100% of TAS' investment return. This is very unlikely. TAS would probably retain some cash for other opportunities. Cash isn't always valued at face value.

Also, it's not a given that TAS will participate in any future EDE funding. So there could be dilution of TAS' EDE investment.

So there is uncertainty re TAS and what the future value of their EDE investment will be.

I prefer a direct investment via EDE at this stage but will watch TAS closely.

That's my take on TAS and I'm happy to be told otherwise.