How do you feel about the Directors decision to throw another $12m at PRC with almost no hope whatsoever of getting the money back ? I'm really "thrilled" by that decision.
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Roger, IMO it is the right thing to do.
M
Im Happy for you guys to see that there has definitely been a bit of a bounce since first sale yesterday..Who knows how this thing will play out
Yeah, they were snookered really, they simply had to do it.
My theory in life is every now and then you have to pat yourself on the back and say I've still got it....well a couple of days ago I put my b#lls on the line and valued NZO at 93 cents,, (post 10263), valuing the PRC component at nothing...and what do you know, that's exactly where they are right now.
another trading halt tomorrow for you lot by the looks,cant see why if pikes value is already wiped out
At the moment NZOG's price is moving on speculation of what will happen with Pike, and we can certainly expect a lot of volatility going forward," said James Lee, head of institutional equities for First NZ Capital. "Ignoring fair value, NZOG put out statement saying Pike was worth 41 cents a share to them, so if it is no longer a going concern that's where we would start pricing."
12.5Mboe producing reserves. 350M market cap. $30 per BOE plus exploration potential. Plus coal. Pike is temporarily dead but the coasters will mine it, and the Brunner, and under the Paparoa National Park, to honour their men - bugger the greenies, bleed gas for electricity generation everywhere they can, aerate it through the escarpment, through lots of vents and the tunnel, and reduce the height of the escarpment a touch - no-one will notice in a few years. Take out every tonne of HCC 80MT plus - NZD20 billion for the Coasters and their families. Keep digging to make it 1 Billion for each life lost. Hopefully the miner's pension fund buys PRC although probably with Indian help. There not much cash nor enthusiasm left here for this mine anymore.
why have another halt though?they should have remained in halt from friday until the outcome was finalised,ridiculous
looks like the only halt was aus because they were still trading when the 2nd explosion happened