Hi all and BS,
This is great. It'll bring the debate of real SHolder value into the open and unsettle some pretty entrenched management. Sell/distribute the lot. Let us be the judge of whether we individually want to support the pups.
So where are we with the cash?
$26.02m (sale of 36.5m OBS at 0.713)
$ 0.68m (cash end Dec Qtr)
($2.07m) (director/other loans)
($0.58m) Est Mar qtr admin and other expenses)
($0.50m) repay convert note
($0.50m) for NVG
($0.50m) for ANW
($1.16m) for Sol gold
$21.39m 'left' end of March Qtr/412.16m shrs = 5.19c/shr cash
So could easily distribute 3c and have $9m left (equal to 50% of current Mkt cap) so that's more than enough.
Hey, if management don't think its a great idea then they can exclude themselves from a premium share buy-back. I think 8c for 50% of everyones holding would get a look-in
From the last annual report, Mather, directors/management and Tenstar (I'm assuming a close ally of Mather) have about 118.1m or 28.6% of the 412.16m. There's probably another 20-30m or so that could be friendly. So Sandon will need to get at least 35% to have a chance of playing hard ball.
What are the other assets worth?
$7.40m (Ironridge: 62.293m @6.25p @1.90 ex rate)
$4.27m (Solgold: 54.5m@[email protected] and $1.16m new investment)
$4.12m (Armour: 75m @ 5.5c)
$1.03m (Aust tin: [email protected] +$0.5m investment)
$0.84m (Navaho: 113.5m @0.3c +$0.5m investment)
$1.00m? (Other unlisted Pinnacle, DGR Zambia, Hartz, Coolgarra)
$18.66m or 4.53c/DGR share.
So, in all...9.6c/DGR share compared to March VWAP of 3.896c.
Hey, I might even be tempted about letting Sandon have my shares at 7.5c and give them 2.1c or $8.65m profit for their troubles.
Kick some A..
Cheers,
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $12.52M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.2¢ | $2.274K | 189.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 1843000 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 150000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 1843000 | 0.011 |
3 | 1850000 | 0.010 |
5 | 919667 | 0.009 |
2 | 260000 | 0.008 |
1 | 200000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 150000 | 1 |
0.014 | 268000 | 1 |
0.015 | 600000 | 2 |
0.016 | 600000 | 2 |
0.017 | 1120000 | 2 |
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