Macquarie, page-8

A very good and fair question Mighty Atom. Thank you.

All assets that are valued on a discounted cash flow basis are in question (whether it be a copper mine or a vessel/shipyard/supply base etc). Historical cost valuations are fine but even they may need revaluation if the owner has paid too much for them relative to projected (discounted) cash flows! It's the cash flow projections that matter. Goodwill, as you rightly say, is not all that important in the MRM case.