(Previously this was June so they are clearly close)So close to...

(Previously this was June so they are clearly close)

So close to funding yet shareprice at the lows

one has to assume its Shenghe sell down, but ultimately whilst they might rob us for 50% of our asset for peanuts, at least we know the other 50% will finally return something.

Sadly russel etc are in for a quick one here, they are however significantly down on their own purchases, but i reckon the lower this goes the more appealing any shenghe offer at a premium is going to be.

but ultimately, any sale will need to pass the sniff test, This is a 48m company holding a AUS 2.3b BFS (232 npdr prce vs current 89 so big drop to say 800m ) asset.

Shenghe cant just walk in the door an value PEK at 100m, giving us 50m for 50%. The BFS would force them to consider something closer to 300-400m giving us 150-200m or 4x the share price.

I dont think russell and co are a backseat driver in this situation, they are doing the right things, the market simply doesnt want to price it in correctly. But isnt that where the biggest gains or loses are? when the market gets it wrong?

My 2c - good tax loss selling, but youd need to be holding come july 1st and on that note, ATO may also not look at a sell and buy as being legit.. Some bounce to come to time it well