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Ann: Update on Deed of Company Arrangement., page-6

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Matricks

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23/07/19

11:03

Post #: 39646147
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Originally posted by Chrometophobia: ↑

Hi NZ, I’m as sure as I can be that there are no gold assets left and there’s definitely no Challenger, Tarcoola or Tunkillia as these were sold off by the receivers to pay Byrnecut. Effectively what is left is a listed shell. Sure, assets will be brought in but that will likely mean more dilution.

If, as I believe, that the 12.5m will be given to us shareholders pro-rata and we use the $0.02 price, you get $0.25m vs a market cap of $13.6m on the last day of trade. That gets you to around 2% or 50 times dilution.

happy to be corrected.

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Thanks Guys. Mostly I've seen shells valued at $1M. $0.25m is a nice pickup for someone, hope its not that cheap. Cheers M

WPG Price at posting: 1.5¢ Sentiment: Hold Disclosure: Held
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Ann: Update on Deed of Company Arrangement., page-6

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