ann out- but not available yet, page-7

Receiving a multiple of your market cap sounds good. BUT.....

Your market cap takes into account not only the assets, but the liability offset as well. So the above can sound good, but the real picture without the smoke and mirrors may not look so rosy. Mashala debt payment has been kicked down the road further, but they have bought time only, and now must raise the cash, possibly through sale of the Mashala assets?

It is the net position left after sale of the assets , and paying down the debt that is relevant, and not the window dressing of 'multiple/s' of market cap that is releveant.

Here is a coy described as coal mining and development business in South Africa. Yet on the other hand, its core businesses are up for consideration of sale.

It could even be left as a non coal producer in the end. Gee, I would not want to be in this if they were only left with cash to mismanage in the end washup.