Leveraging The TSI Real Estate, page-116

Thats the problem, TSN don't have the money for other projects. Cannot see a CR getting far when the MC is $17m & a share value of less than 1c. TSN's 25% interest in TSI is valued at $10m(?) & if realised could be used...lol.

However, the TSN update of 1st May in regard to the TSI buyout stated that "TSN intends to continue to monitor the opportunity, although no conclusions can be drawn that any deal will proceed in the future. From discussions previously held with institutional investors in relation to a capital raising for TSN, both on a debt and equity basis, Cadmon Advisory (advisors to TSN) report that interest in the space continues to be strong." Our directors still don't see value here???.