RE: Distribution28 Feb 2017 14:31
By my reckoning they should have around $19m in the bank now.
Per the 30 June 2016 accounts they had $2.2m on deposit and approx $1.1m cash (excluding the funds they had just received on the 1st Arjaan plot sale)
For Arjaan plots net received has been:
Plot 1 - $6.4m
Plot 2 - $3.7m
Plot 3 - $5.7m
So a TOTAL of $15.8m. Operating costs are fairly minimal so should have around $19m in cash (i.e considerably more than current market cap)
If they decided to distribute $15m, of the Arjaan cash that would be 0.54c per share. Not half bad.
I think it depends what they want to do with the business going forward as to how much cash they return to shareholders.