re: Ann: PRC: NZ$10m Placement and Underwritt... Production figures from Kupe and a mischievously misleading note about revenue stream of NZD60 to 65M pa. Why misleading? Because it ignores what costs are to be carried by NZO or by the JV - i.e. net or gross revenue.
It is still hard to see why the SP wallows at this level. NZD600M cap. A hint fom DS that NZO's largest asset is Kupe. On a 10pc NPV for 20years at $50M pa cash flow Kupe is worth over NZD400M.
Cash is 175M - what is gross cash v net cash??
I thought cash was cash. Is there a loan left somewhere?(Is this new Aussie beany being a teensy bit sloppy?)
So PRC (150M at market), PPP ($30M), Tui (est $200M), valued exploration areas, are all for free.
Would be over $2 on 390M shares - if it was Australian - perhaps that is what we have to wait for to have the value recognised.
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