brucey, this is from the AGM ANN re Duketon:"If Shareholder...

brucey, this is from the AGM ANN re Duketon:

"If Shareholder approval is obtained for the reduction of capital and the Directors proceed to implementation, it will have the effect of reducing the Company’s total and net assets and reducing the Company’s total equity by the dollar amount of the book value of the 31,683,208 Duketon Mining Limited Shares which is $2,200,000. The Company has estimated a capital reduction of approximately $0.07 cents per Share (based on the number of Shares on issue as at the date of the
Notice of Meeting). The exact amount of the return of capital per Share may vary in the event that Options are exercised
prior to the Record Date."
____________

So, the company says a 7c reduction. The ANN was written before the big STB crash, so I am not sure if the 7c is still the mount- can anyone help here with the numbers post-crash? Same? Less? More?

The Duketon shares are estimated to be worth about 18c-19c by the valuer. They'll be a private company, but intend to raise $1.6m at some point. If they wish to list on the ASX, I think companies these days need to have $3m cash- new ASX rules.

The market will decide how much to reduce STB by @ ex-dividend. Too good to be true to get shares worth 18c and have a reduction in STB shares of 7c? We'll have to see! If that did happen, STB would then be cash-backed, I guess.