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clock Created with Sketch. 24/10/23
22:36
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Originally posted by poppy44:
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FROM THE ANNOUNCEMENT above , they again refuse to exchange the $16mUS into AUD$. In their calculations they count the $16mUS as in fact $16MAUD. They have done the same in a previous announcement that many on Hot Copper expressed their shock at. $16m US is approx on todays rates $25m AUD. Counting the sums as they do, the distribution is $154m AUD. whereas counting the $16m US as $25m AUD and discounting 10% the sum to be returned should be $161m AUD. Where am I wrong?
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I think your spot on, they are either trying to pull the wool over everyone's eyes or it is a diabolical typo overlook. We really need answers on this as it's extremely important. Would also love to know NGE's opinion on this matter. Anyone else also questioning why they need $35m odd leftover? I mean with this kind of cash, anything less than a cracking aquisition will be very disappointing.
(20min delay)