Ann: Entitlement Issue Prospectus, page-51

A lot hinges on this C-19 and government response. Donaco is not unique to this - the whole world is in shambles - cases in US are rising fast, Sth America shutting down mines etc. Economies are crumbling or at least have been hit with massive disruptions. If there is a bright spot with Donaco its the fact that Megabank's debt levels have slowly been paid down (that is till this virus hit).

Any valuation for SV is a bit of a worry since Donaco is only leasing it hence very much dependant on extracting money from a business sense - Donaco doesn't own the land and courts previously identified the 'asset' being only worth around US$30mill - less than a 10th of what has been paid for it by Donaco - and that was pre Covid.

So the only 'real' value probably is Aristo which whilst may be valued at a certain level - will probably not be realised in the event of a forced sale. So what is a share worth?? Currently unfortunately 3-4 cent seems to be on the money - perhaps even at a premium - and can head south with further shutdowns. Hence very skeptical of buying at even the 3.5 c rights issue price. Good luck to ASM getting back whatever they paid for their stake - even they seem to have outsmarted themselves. Each to their own.