Originally Posted by
fabs
Quite a few issues arise now, almost all dependent on the time and conclusions of various investigations, when they can start and when they finish and what they trow up, so not only months, lets say a long time.
If anybody knows of an Ins.co. that pays out anything without waiting for results of above, let me know.
Loss of earnings is probably based on current F/Y s which is the net of the last shipment say 3 mil., not projected future earnings, question is for how long? probably not for a long time IMHO, so that wont go far. As for the $100 mil. if there is proven negligence or other mitigating issues again long wait and very lucky to get the full amount. In the meantime i do not have to go into the details of the quite substantial ongoing costs ,before they can safely enter the mine if ever plus restoration Like wise the $12mil that NZO under contractual or for altruistic reasons has pumped into a now virtually bankrupt and indebted co. will soon be gobbled up.
As a NZO S/H i feel the management has to make some very important decisions based on commercial realism, free of wishful thinking and sentimentality. PRC sadly as co. has reached the end of its original format and concept.
And yes both co.s are takeover candidates, i would value PRC. as virtually zero at best. NZO future now depends which way the management jumps, more money into the bottomless pit and consequent more losses to its S/H or cut your losses and concentrate on its core activity where it should have been in the first place.