URF still a hold?, page-10

23m / 1228m = 3.7% approx. on annual basis.....

op costs (9.3m + 1.4m + 2.6m + 4.9 + 0.3m) = 11.8m annual

Int costs.......

so - it is going to have to be restructured.....and further assets are going to have to be sold ......

which has implications re the preff's on issue .....

which has implications for ordinary equity ......


this "should" have been a great idea ........

sadly ........3 layers of debt.....and too much of it.....plus lots of repairs and maintance .....and not fully occupied .......

rgds
Value_Hunter