RE: Re Net Asset Issue25 Apr 2024 15:54
It's perfectly obvious why no one is bidding at the moment. Any interested parties will need to wait until they know the licences are all in place and there is a guarantee from the authorities that the project can go into production. Likewise, no bank is going to offer funding either without full authority approval. That is the missing piece of the jigsaw.
I believe these are expected to be approved soon. If there are genuinely more than one serious party looking to buy or invest, an offer from one will force the hand of the the others, whether that be diod or not. Hopefully that will set off a feeding frenzy and the full, or near, value of the companies assets will be realised. Beutong should be worth a $ per tonne or ore and the rest around the $200 million mark. Any final price depend on the keeness of any bidders and how much discount they can extract from that.
The current share price is fairly rationally in that context but with the approvals in place, should be at the 5p mark straight off.....theoretical!