While I agree a CR is the likely path AUZ will go down to raise cash - I do wonder if perhaps the new CEO will recognise the difficulties in terms of the issue price and generally the likely difficulty in getting a CR away successfully and might surprise us by negotiating the sale of some of the projects AUZ is sitting on. For me Flemington is the jewel in the crown of the remaining projects and I would hate to see it go - but there is possibly some value in the other projects and I believe definitely Flemington would likely be attractive if it is being marketed for sale.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-153
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| Open | High | Low | Value | Volume |
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