Depends on what they were being offered for Aje. At the end of the day the directors are employed for the LONG TERM benefit of the business, not short term.
If they are being offered next to nothing for Aje (ie. similar terms to what FHN and Lekoil recently bought in at) for an asset that is maybe less than a year to early production, thats a ridiculous price, and a cap raising may provide better long term results.
Best of both worlds, would be an alternative funding agreement (loan facility) either from an institution or a partner.
Theres a lot on here that state "just sell Aje" but if it doesn't realise the value that we could get from the asset with only minimal further capex (probably something like $60-$70m GROSS to get the EPS up and running) then they should not sell just for the sake of it, but whatever the best long term funding solution is.
JKA Price at posting:
6.8¢ Sentiment: LT Buy Disclosure: Held
