Selling of key asset

Any thoughts on the below??

According to reports from West Australia, where the company’s perhaps unfortunately named Gonneville project is located – right next to a state forest – the company is selling off a key asset.

That key asset?: a workers’ camp purchased during resource drilling and clearly intended to house drillers and other mine labourers once Gonneville got up and running.

For clarity, it bought an old bed n’ breakfast in the high-wealth regional retreat Shire of Toodyay. (The company has been battling tree tories for years.) But it’s now getting rid of any location where its workers could stay on a swing – which, sadly, means they’re not expecting any workers any time soon.

That’s getting a bit speculative and unknowable – but it’s clear what the sale of a workers’ camp means.

Reports indicate that bed n’ breakfast Chalice bought was snatched up for $1.6M, and Chalice will now sell it for $1.8M – a relatively paltry gain given what property prices have done wholemeal through COVID.

That extra $200,000 – considering the last half-decade of inflation – doesn’t count for much, either.