Trouble is management - market wants AVM to take it over. Trouble is Eritrean govt gets 10% free carried interest plus the right to purchase another 30% leaving SBS with around 42% of Zara. Trouble is all the money contributed by AVM a couple of months ago has now gone on capital gains tax of $6mil on the sale of Asmara to Sunridge plus drilling costs at Zara so get ready for another fund raising exercise - will AVM be interested?
SBS Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Held
