Crikey what we're all these people doing all day, there's only so much paper to shuffle.
I think the Board has arrived at the realisation that it's going to be quite a while before shareholders begin to receive any benefit by way of dividends. So some at least of the funds may be better in our hands. Aim seems to be to remain viable until the price of copper and nickle turn and we can get a halfway decent price.
So what can we get for our assets:-
Cash. $m 20
Freida. $m450 spent on drilling and a FS .Our 20% = $m90
What value on one of the biggest underdeveloped copper deposits in the world ,say another $m90
To PNA say worth $m200 all up,as they don't have to fund a pesky partners share of borrowings.
Star Mtns. Early days but we spent $m27 before Anglo came in. You don't get partners like that unless they
are fairly confident. To take out a future 20% partner, and not have to provide $US 165 of
borrowings at a future date, say $m40
Ramu. 9% of $US 2.1 billion in Aussie $'s say $m300 less our share of borrowings say $130. We will take
$100 mil.
Comes to $360 mil or about $.36 cps.Sure beats 5.5 cents.OK Highlands I've been around long enough,14 years time to get something back.
HIG Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
