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