Incorrect stories from the press again this morning drive the way people think.....the A$900 million is to be repaid in the middle of next year.
With regard to the "extra" $2 billion....why not compare the assets v liabilities balance sheet released Monday with the full year 2006/7 result. There is NO extra $2 billion on Allco balalnce sheets.
The $2 billion refers to associated entities...which was disclosed. All companies have debt -
Company on a PE of about 2....asset backing - excluding goodwill - 3 times their cap. They spent 2 weeks with banks going over their books with a fine tooth comb...but no investors are going to listen to what the papers say about the compnay.
Bunker down and buy is what I will be doing....why because this stock can be 43 in 12 months time.
AFG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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