Hi BB,
Interesting,looks like Non holders were getting scared before most of current KZL holders make comments. All rush in to make a list.
As a SH, I was frustrated with today's announcement, KZL finally didnot solve the funding issue on time, I think KZL have to accept the bid from the administrator to get more time.
I think the administration will trigger upcoming takeover bid for the whole company which you mentioned is your "worst case" but I believe it's the best option.
You mentioned "Lounge Lizard sold for 43% less than minimum expectations", actually Lounge Lizard sold slightly higher than the book value--$67.4m.
Refer to half year report, balance section:
current asset
Asset classified as held for sale
67,392,000 ($67.4m)
So Lounge Lizard project sale didnot make any demage for the $477m NTA.
But the operation in last 4 month may contribute to further $30-50m loss, that why I just use 50c per share as current NTA.
I am expecting any formal takeover bid is in 20c-25c range. This mainly focus on KZL's copper assets and the MUX holdings.
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Hi BB,Interesting,looks like Non holders were getting scared...
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