Unfortunately I think we will have another round of PPX v's...

Unfortunately I think we will have another round of PPX v's PXUPA on this forum - but hope not. Disclosure - I have both but heavier in PXUPA.

Quick calculation shows NTA of 18c share in 2011 down from 34c/share in 2010 means we had 13 months from end December, now only 11 months to go before 0 c/PPX NTA.

I don't put much faith in their inventory calcs or their intangible assets so may even get there quicker.

This ship has downward momentum which must be turned around quickly or nothing left for PPX and then starts eating in to PXUPA.

The ship needs a new skipper and the sails reset quickly. As time running out, I'm starting to form an opinion that a sale is a good option for holders.

Either way, hopefully Price will be able to structure something in the time available.

If he does nothing else other than maximise a sale price I would be greatful. If he can get $250 mill (ie ~ 6% of revenue) would be outstanding and perhaps provide 13c/PPX and $60 /PXUPA.

Question is, will someone pay those $$$'s?

Perhaps a competitor may to potentially realise greater margins on both their own current sales and existing PPX sales plus remove overheads and surplus sales and other duplicated functions in the process?

May the force be with you Mr Price.