Interesting post beetrootpie. The advertised sale price for...

Interesting post beetrootpie.

The advertised sale price for McPhillamys was $75m for ALK, but they were paid in shares, on which they made a $25m charge in FY13. In H1 this fin year they sold 11.2m for $3.89, yielding $45.5m, and clawing back some of the previous charge. I can't see whether they've sold any more in the second half, but if not, the remaining 6.6m shares are currently worth about $11.4m. So $75m is down to about $57m.

So great timing on the sale of the asset, but less than perfect timing on converting the proceeds into cash. Maybe they agreed not to sell the shares right away, or perhaps they wanted to retain a diluted interest in the asset.