That's the bear case, and it"s fair enough.
I am working on the assumptions that the cranes still have some value. There is over $500m of the stuff on the balance sheet, much of it brand new.
My point being that selling surplus kit is the obvious option. The shares already trade at at a 77% discount to NAV. If you can sell the older kit at say a 5-10% discount to NAV, you achieve a lot more for shareholder value than a dilutive 5c rights issue !
See also the company"s comments on capital management. The whole emphasis was on returning money or value to shareholders from the balance sheet, not asking for more !!! I reckon the company will start to buy back its own stock soon.
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Last
13.5¢ |
Change
-0.005(3.57%) |
Mkt cap ! $57.04M |
Open | High | Low | Value | Volume |
13.8¢ | 14.0¢ | 13.5¢ | $6.826K | 50.54K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 219545 | 13.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.0¢ | 708756 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 219545 | 0.135 |
1 | 405000 | 0.130 |
3 | 211000 | 0.125 |
3 | 18340 | 0.120 |
1 | 4770 | 0.105 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 708756 | 5 |
0.145 | 956695 | 5 |
0.150 | 678907 | 8 |
0.155 | 879727 | 6 |
0.160 | 2139986 | 6 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
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