But the enterprise value is now Aus$13m instead of Aus$5m, which makes a big difference to whether the company is worth investing in. An ingenious re-write for marketing purposes.
I see the directors suddenly had shares worth more than Aus$30m on floatation. Nice money if you can get it so easily.
With sky high debt to equity will Newcastle (the phase 1 part) be a company maker? I have my doubts.
I suppose the all important thing is will they have enough funding with the debt facility to get to production without a dilutive share issue. I have my doubts. And also once they get into production, a -ve NPAT will make the gearing worse.
Am I missing something? Thanks in advance.
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