Luckily I have lost a small amount due to diversification, but...

First 16 Last

Share
Profile

Follow
gsad1000

5,998 Posts.

525

22/01/18

21:34

Post #: 30481873
Share

Originally posted by buffetman ↑

I guess I should change my sentiment now to hold!

Ah well, you win some you lose some - as long as part of a diversified portfolio people shouldn't be hurting too much. I'll be down 80k on shares assuming total loss and will help offset some profits so a tax saving there.

It does seem strange that they rejected Frank's approach - too much emotion I suspect rather than pragmatism. And sales of new plantations dropped hugely without Frank.
I suspect he was the rainmaker and it came sometimes with a price in the form of the put options.

Strange the put option holder didn't want to wait until the company was re-captialised as they probably won't be at the front of the queue for creditors unless some deal was struck with the extension.

Also silly their mount romance division bid for the sandalwood deal recently if they had cashflow issues - surely an external fund injection would've shown confidence and provided needed funds...

So net asset value was 36.36c per share at the end of FY2017 Annual Report.

Any guestimates as to the realisable value per share on liquidation. Once the administrators/receivers get in of course the 2k per day and plus fees kick in and the assets will burn quickly. Has anyone seen receivers do a good job by shareholders and recover a decent amount and keep companies operationally viable and profitable for shareholders.

Expand

Luckily I have lost a small amount due to diversification, but it still annoys me that it has happened.

There are some unanswered questions here, it will be interesting to see some answers come out.

My thoughts go out to the staff, hopefully it will continue as a going concern.

QIN Price at posting: 29.5¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

DEL

Delorean unlocks $30M through Tanarra finance facility for bioenergy projects

ADH

Adairs MD and CEO steps down after 17 years in company management

FEG

China's Xingye snags 19.99% stake in Far East Gold, eyeing latter's Indonesian gold play

Is the ASX getting its groove back? Here's 5 IPOs in September to watch

SRN

Copper and zinc zone prove exciting news for Surefire close to WA's Yidby