Prob not the worst punt going around @ 2c ($10mill cap). $6mill GST claim + the $21mill equipment value. Even if they get 50c in the dollar flogging off the equipment looking at $16mill from just GST and equipment.
Risk is dead asset and cash gets milked but could look like a cash box seeking new project with an asset that could be sold. TEM paid $25mill for that underwater project that was dead in the water.
Anyway just a trade for me off this level with a motivated sub holder nearing capitulation.
GPR Price at posting:
2.2¢ Sentiment: None Disclosure: Held
