I spoke to Derek the receiver. He said that AARI has received a few expressions of interest for the Bronzewing project as well as the stake in Carnilya Hill. He did not know what the offers were but he said he expects AARI to have information that they can release in the next few weeks.
I asked him about Carnilya Hill and he said it is operating and generating income but the GFC has not helped and nickel prices are well down as we all know.
They were expecting to re-list sometime this month but with the GFC impact he is now now sure if and when that will happen.
he said if the value left in the company is negative, even after offers have been considered, it may be better to wind it up and issue a letter of insolvency so we can at least claim the loss this financial year.
We could offset this loss against all our other capital gains on our other stocks......... :-)
VRE Price at posting:
13.0¢ Sentiment: None Disclosure: Held
