Hi all,I bought KAR a long time ago on the basis of a high NTA...

Hi all,
I bought KAR a long time ago on the basis of a high NTA against the share price. Little was I to know that management would burn through that NTA over a number of years. So how 'sure' is this, assuming the transaction to purchase a production asset goes through. Are reserves more or less guaranteed? I've lost confidence in management even if we get the producing asset because of the way KAR has been managed to date. Or am I being overly cynical. Are they a crack management team with a good track record of managing assets in production. Were they just biding time with tea and biscuits in anticipation of a deal like this? At the moment I'm holding fire but I'm tempted to liquidate now to at least get close to what I paid. I'm sorry my questions aren't technical and I know I need to DYOR, I'm just trying to evaluate risk at the macro level, and as i say. Management makes me nervous... Dave