Good post friendly.
Interestingly, the commentary says Homeground was valued on DCF method as at 31 December...how is that relevant to 30 June report?...at 12% occupancy the DCF method would produce a far lower valuation. No one in their right mind would buy it for $111M when you could buy the main street in Gladstone for that. It's lucky to be worth $10M.
Take out the goodwill in NTA (which should be half of what it is at best) and you are left with what I think is a fair value of this outfit.
Your comment on Hastings is also spot on. Not sure how they can get away with saying the loss is a one off when it occurred during BAU operations.
It would be interesting to hear some opposing views, but not surprising there are none at this stage.
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