nxs - 2008 financial position, page-5

Hi Riv,
The investment Banks advising on the sale of share of CRUX will be treating this as a distressed sale, so don't hold high expectations. Considering Management have always claimed that 'Buyers are queuing up' for years now, it comes as a surprise that Agents are looking for buyers. They said the same about Longtom, yet never a sale or partial sell-down. I suspect this will be confirmed on the Announcement that NXS will exercise the PUT option meaning the share of CRUX has no real value. Any third party will look back on NXS transactions with potential partners and realize the obvious.

Ref# The 'Going Concern' section in the Annual Report. There's your warning.

Is it true Patersons are valueing NXS at ~$100m??????

Prediction: SP will go sub .10c whilst FIRB and Retention Licence are in process. The Sale of CRUX is going to be a disaster at best. The value has been transferred already.