vultures circling

Ascent is a reconstruction out fit for dud ASX cos . The only value left in MSC is the tax losses ..in the 100s millions ... the haircut is taken by the rest unless the banks Westpac - St George..if the deal is accepted by them. The scrap value of the plant at SR is less than the cost to salvage it and reclaim the site .
Ascent is still sitting on the junk rusty plant from the ASX Monto collapse a few years ago ... another Qld mining disaster ... so their track record on the real deals is suspect. The tax losses are the modus operandi ...
Alexander will be passe for this crowd .. he is more liability than the tax loss asset and the listing ...
Maybe the shareholders should send the tax losses to the tax man rather than making the vultures fat .