I dont think bigger things are brewing, however I think investors are now starting to see the value. Some are saying the risk of a negative result in the arbitration is low. The lenders have said they will extend the funding for 6 months until June 13.
As Ive said before;
EBITDA $26.3 X 8 Multiple = $210.4m Net Debt = ($190.626)
Value = $19.774m or $25.15/share
I expect that debt would have reduced further with lower interest Vs prior year and I suspect that the EBITDA is better than prior year. These point to much better valuations.
AEJ Price at posting:
$9.50 Sentiment: Hold Disclosure: Held
