Firstly by way of disclosure I've held ERA for a long time (since the days when they mined and made money) but missed selling as it all went belly up for various personal reasons - at this stage I'm holding (just) based on the premise that I've lost 90% and the remaining 10% is worth 2/5 of 5/8 of f*** all. Having said that I'm probably about to cash out and buy myself a cup of coffee.
What I'm truly trying to work out is why anyone would buy shares now, and why this company has any value at all - happy to hear from anyone who can answer either or both.
As I understand it, ERA has no realistic chance of mining again or earning any significant revenue. In addition they have rehabilitation obligations which far exceed any cash held. So how can they have a market Cap of $900m?
Firstly by way of disclosure I've held ERA for a long time...
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