AZZ 0.00% $7.50 antares energy limited

update..(AUD). AZZ have now spent $13.8m on notes and stock...

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    update..(AUD). AZZ have now spent $13.8m on notes and stock buyback.

    Cash circa $16m
    BBEP shares $26m

    Conv Notes $47.5m (BBEP current Div AUD$5.1m more than takes care of 10% interest now)
    but cash and shares don't cancel note debt ($47.5m vs $42m)

    Market Cap @ 14.5c = $35m

    EV minus $2.5m. Seems AZZ is tracking only BBEP and Cash value.
    so the upside remains from the large 23,000 gross Permian position.
 
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Currently unlisted public company.

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