There is a fair divergence between MC and valuation now.
No debt so no third party can create an issue (bond holders)
By valuation I mean what you would get shareholders to agree to sell it for.
PLS was 14c and in dire straits, but you would not have been able to buy them for 14c per share. Not even 50c.
Still may be more to drop but I doubt too much.
Agree on S Hay comment too.
Richard given the flick. JP to Chair.
Ann: Galan Investor Webinar, page-163
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