As Feb looms for next hearing on Sedco, the March downgrade of Longtom could pull this below 15c. April is the next update for the Crux deal, and from what we have seen so far, it wont add any immediate price premium.
$311m spent on CRUX, and how much spent on Longtom so far?, and they aint done with throwing more money into the Longtom money pit.
I would say Fowler and Co have lost over $400m in the last few years through bad investments, bad contracts and highly paid incompetent staff. A company of one could have achieved more (and taken responsibility)
Its getting worse by the day.
Looks to me M&G got fleeced, similar to Viking,
longtom write down: valuation 15c possible
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Mkt cap ! $65.63M | |||
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