No bidder's statement for Tully out yet. Should be anyday now. Perhaps they are due to announce an asset write-down as the same time and will put the bidders statement out 30 sec's before the writedown announcement.
Speaking asset writedowns did anyone notice the $8.5M write-up of land in the books on acquisition of MCM. Now there's a story. Where in Gordonvale would you want to buy a block of land for $10M? Unless you were a property developer of course. But last time I looked the Gordonvale property market wasnt holding up so well. Probably about as feasible as a marina development on the Mary River at the moment. Maybe they'll buy Martha Cove in Victoria as well as try and pull a write-up on that as well.
DYOR
MSF Price at posting:
$2.22 Sentiment: Sell Disclosure: Not Held
