no sweat bwanai had a little squizz at their latest...

no sweat bwana

i had a little squizz at their latest announcements

so the sale proceeds of around $7mill aussie equates to around $0.0039 or around 4/10ths of a cent if you take 1.8 billion as their scrip on issue. add whatever their other assets are worth like ETE scrip say another 1.5 mill and you add another roughly under 1/10th of a cent. now add whatever Oseil is worth and you get a rough idea of what fair value is. If say their 2.5% stake is worth 10 mill then add another 1/2cent (maybe another person can give an opinion on what Oseil is worth as I really have not had a look at it). So all in all I get around 1c as a very rough valuation. Probably around .005-.007 is closer to the mark.

please correct me anyone if I am wrong or you are opinionated otherwise.

the other point i dont like about the proposed deal is that they have not hedged the AUD against the USD.

from the ann dated 17 Nov.
"Lion has not hedged the receivables under the proposed sale and is exposed to any change in the exchange rate between now and completion."

deal done at .76

well they screwed up there if thats the case because exchange rate already hitting closer to .80

it may well be under .76 for that matter as well by next year by which LIO would get more, however the way the trend is going and the way the USD is losing steam you wouldnt bet your house on it happening.

anyway, as always do your own research and dont rely on on me. I do not hold.