Guidance was 4c - 10c, implying it is a bargain with little downside risk, but the possibility of strong returns.
However, management cover themselves by saying conditions could deteriorate further, which would mean an even lower NTA.
So still risky.
I'm trying to get a better understanding of their properties and the issues they are facing, so I won't rush.
But I like this type of punt.
Milesy
