Seamfiend,
Just taken a look here myself, also struggling to see the value at 44.
I note some of the directors sub underwriting at 27 (less subunderwritters fee?). I guess at 27 I might see value too? not sure.
*Mahalo - looks pretty limited in potential given the mc
*Galilee - well there are cheaper options in imho, given they have not really highlighted anything that strikes me as attractive - time might prove otherwise.
*Greymouth - where's the market? Christchurch sure. Well the crow might do it in 180km, but by road closer to 300 crossing the Southern Alps. By pipeline maybe similiar and I doubt a market in Christchurch to justify. It"ll be a major engineering feat.
Happy to look elsewhere until these guys show more than their pedigree. Sometimes mongrels are better.
EL
Seamfiend,Just taken a look here myself, also struggling to see...
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