Ann: McArthur Oil & Gas SEAAOC Presentation, page-3

Don’t forget the AJQ debt. Need to add that to current market cap to get the ent value. After transaction AJQ is still a company losing more than 2m a quarter with no real prospects to change that soon.


MOG seems good value but AJQ is headed towards New Peak and Aus Tin status.

I should note I haven’t read the preso so not sure if they address that.