Good post friendly. Interestingly, the commentary says...

Good post friendly.

Interestingly, the commentary says Homeground was valued on DCF method as at 31 December...how is that relevant to 30 June report?...at 12% occupancy the DCF method would produce a far lower valuation. No one in their right mind would buy it for $111M when you could buy the main street in Gladstone for that. It's lucky to be worth $10M.

Take out the goodwill in NTA (which should be half of what it is at best) and you are left with what I think is a fair value of this outfit.

Your comment on Hastings is also spot on. Not sure how they can get away with saying the loss is a one off when it occurred during BAU operations.

It would be interesting to hear some opposing views, but not surprising there are none at this stage.