In last years financial report there was $59.9mil "contingent liabilities". My presumption is that this was for the Sedco claim. Is that correct? If so, that has now been changed to a $30mil actual liability.
The net assets then were $309mil. Given that Crux was I expect overvalued for a fire sale, I expect that's too much, but the reduction in contingent liability will make it look a little better.
If, as has been stated, there was an offer of $175mil for Crux, accepting this (if it is still available) would pay off the $146mil debt and the $30mil Sedco claim leaving Longtom & Echuca as company assets. Seems like that might be the most sensible thing to do to save something for holders?
In last years financial report there was $59.9mil "contingent...
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Mkt cap ! $58.43M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 20.0¢ | 20.0¢ | $7.298K | 36.49K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2090 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 7938 | 2 |
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