But that is the point - if the assets aren't working then they do not justify the stated valuation because the valuation is based on unrealistic assumptions. The NTA is irrelevant if the NTA is based on management's DCF especially the assumptions underpinning the DCF have no basis in reality.
This raises questions about why these valuations pass muster for an audit purposes. One of my jobs as an analyst was to peel back tor unwind he management assumptions and substitute with my own.
Ann: Response to ASX Query, page-11
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