the value in this announcement is not in the feel good waffle of the much despised CEO but the imprimatur of the incoming auditor PwC.
CEO talks of measurable improvements in costs and production but it is PwC that would have to be convinced about the realisable ie measurable value in the Karouni mine. Given that the stockmarket values the enterprise at $70million I'm hopeful that PwC exercised due care to accept that the enterprise really has a disposable today of twice that.
Last night I was a reluctant hold ..today: I'm a buyer.
Half Year Report, page-2
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