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7,990 Posts.
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14/02/10
21:28
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jc1981,
I don't wish to rain on your parade, because I too think NSE has lots of potential, but your figures are not correct and you need to check them.
NSE has 141.5 MILLION shares on issue ( confirmed from their website and recent presentations) so their mkt cap is @ 11.5 cents/ share approx $16.3M
They own 10% of BRU ( not BUR ) which you correctly state is worth $4.4M.
Their cash position is as you state ~$5.6, so yes, tangible assets ~$10M.
So they are NOT selling below NTA backing.
As I said, lots of potential with some great territory.
I currently do not hold.
DYOR
Bendigo
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