Why sell?, page-10

Corporate,

Peter Strachan would surely have talked in some depth with mgmt, prior to writing his report. He had them on Dec 3rd at $17M net cash.

Additionally, we have been discussing TDO on the XSO thread and John43 confirmed that he called the coy a couple of weeks ago and basically corroborated my calcs.

I'm certain that at 4.5c it would be trading at a negative EV but I guess you could always make a call to TDO. Either way, it's all a bit academic, as we know what the cash is to be spent on and what the potential price drivers are, along with their timing.

Cheers