Ann: Quarterly Activities Report, page-12

aappy.... I did the sums again too.... and came up with a similar figure per share.... just for what the cash backing would be... never mind the value of a listed "shell".


I came in at a smidge below 60 cents... but still a nice price given where we are at.

Not sure why I ever doubted the deal was able to vary with Fx ratio.... but double checked the relevant ASX releases.... and prices in AUD have improved according... both for the cash for takeover... and cash for the bond help by Kodiac (now $1.1 million).


Approx $5.0 million combined improvement since November 2014.

From this....





... to this....




Seems while low volume.... the sellers are gradually being nibbled away at.


Approx $71,500,000 including current cash... bond... takeover... plus value of shell.... less costs of transaction.

bsh