I bought a parcel, I didn't expect the SP to fall so much. The risk reward proposition is quite attractively at current level. I think the best outcome at this point is a trade sale of the entire company. There is definitely value here in the resource and existing assets. I think the company is positioning itself for a sale too with the CEO transition and single EMR capital major shareholder makes it easier for keen buyers to negotiate with.
Company paid ~$210m for GG a few years ago and ~50m for CC.
The reserve and resource valuation. Can value this to your own preference. The Northparkes EVN acquisition is like $AUD 50c+ per pound of Cu eqv reserve.
EMR will want to salvage this situation as best as it could. It is a fund management company, it wouldn't look great for their one of their biggest assets to go belly up. It is in their best interest to actively seek buyers to recoup as much value as they can.
It is not out of the woods. But 30c SP is alot less risk to take on.
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