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
14.3¢ |
Change
0.003(1.79%) |
Mkt cap ! $60.26M |
Open | High | Low | Value | Volume |
14.3¢ | 14.5¢ | 14.3¢ | $2.804K | 19.34K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 713864 | 14.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.5¢ | 162236 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 713864 | 0.140 |
3 | 57230 | 0.135 |
3 | 211000 | 0.125 |
2 | 8340 | 0.120 |
1 | 19317 | 0.100 |
Price($) | Vol. | No. |
---|---|---|
0.145 | 162236 | 3 |
0.150 | 576538 | 5 |
0.155 | 171148 | 3 |
0.160 | 672509 | 8 |
0.165 | 450000 | 1 |
Last trade - 15.30pm 25/07/2024 (20 minute delay) ? |
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