Cash backing per share $0.33/share c$350M
Environmental costs (unlikely as the asset is a at similar state to when it was acquired from BHP)
value of other equipment 50% discount to book value (50% of $220M) $110M
Mining assets $0M
The maths don't seem to add up when compared to current share price.
DYOR
Ann: Koolan Island Update, page-127
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