***** time to buy ********, page-13

I put a negative value on the stock ... in other words I believe the company may be almost broke or close to.

The rate they are spending money on a project / projects of dubious outcomes cannot be sustained .

The mangement of this company have never delivered on any earnings or profit forcast since they listed in 1987 ? So why would one have any confidence they can now .

They value the Skarden river plant very highly , but I suspect that plant will never produce at commercial levels . Unless it does it is worth scrap value - less the cartage costs .

The only way they will claw back any value is selling the deal off via their proposed London listing . Even if they do ....the dollars will likely be pissed away on more far fetched and poorly managed projects .