Does Ausdrill still hold GMR? Their equity for drilling...

Does Ausdrill still hold GMR? Their equity for drilling arrangement seems to have already ceased, so I wouldn't be surprised if they have divested by now. GMR are now using other drilling companies. Either way - any GMR holding is an inconsequential piece of Ausdrill's business.... 7% * $15million GMR market cap = $1.05 million.

Ausdrill's market cap is about $1,200 to $1,300 million. So 1.05 / 1200 = 0.0875%. What happens to GMR really holds no meaningful difference for Ausdrill - - - unless if in 5 years GMR can fully drill out their resource at Kouri and develop it into a mine. Then maybe Ausdrill may be able to secure preferred status as the production driller. Still, at best this might be a $500 million value contract. After accounting for expenses, say $400 million. That would only leave $100 million in profit total realisable in around 5 - 10 years, probably over 5+ years. So say $20 million per annum, discounted by at least 30%. Maybe $14 million in potential added long-term value to Ausdrill. On a per share basis this is about $0.02, assuming all the stars align. However, there's probably only a one quarter chance GMR can develop a mine and Ausdrill is the preferred contractor. So that brings our $0.02/share down to $0.005/share in expected value to ASL.... So GMR's nice assay today is really meaningless in the scheme of things for Ausdrill.