It appears this companies main asset is US$41 mio held in US Banks,plus its investment in the Cameron gold project of about $8 mio.
THE SHARES CURRENTLY HAVE A CASH BACKING OF A$34.5 mio and bearing in mind that US$41mio at .about .87 to the A$=A$47 MIO.
This company is clearly a cash box with a currency play slanted to the US$. Ad to that they still have the option to buy back a further 15 Mio
of their own shares under their current share buyback arrangements due to expire in March 2015.Not a lot of downside IMO.
It appears this companies main asset is US$41 mio held in US...
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$1.36 |
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