Ann: Expected Non-Cash Impairment of Assets, page-10

ECX;
May 2016 - Bought Right to drive for $67 m via share issue = cost based on current SP of $22 m - various announcements indicate currently making approx $10mil.
Bought Grays - $179m via share issue = cost based on current SP $47 m - various announcements indicate making 15 m -> 10 m more recently

Sale prices not unreasonably expected of 5 - 10 x earnings per asset

VUM
May 2016 - 92355
Current VuM = 117,000 - 27% increase in 2.5 years
2015/2016 EPS = .15 -.18c + est 25% (increase in VUM - cut acquisitions)

on a .90c share price = potential 25% yoy dividend return + 11% yoy growth of VUM + tax break from asset write down x 4 years + cost reductions & sale proceeds

Stressed executives removed & clear thinking execs in place = good value?

dyor