Leod there is no debate about valuation methodologies ...it was not mentioned by me and is not relevant to my post. Grant Samuel will no doubt do a gd job for us all. It is however, my belief that there is no room for off the cuff remarks,as you referred to Noel's reported statement. This is particularly important now when we need to put a 'best' face forward and try to get a farm in or find a better suitor to defend against DLS and secure greater value for us all. Your contribution of using 2cents instead of 2.2 misses the point. Your comment re Current or Non-Current Liabilities seems to suggest that the half year result should be reviewed and if incorrect or misleading then restated accurately for the whole market's benefit. The half yearly result clearing shows that $7.2mln will have to be paid eventually from the $12-$14.5mln cash. The outlook for significant revenue is vague right now so we can only deal with the numbers as stated. The current cash turnover as you call it is presumably made up of signicant one off items which are not repeatable. These could include more US$ from the drilling contract and bank interest, leaving a balance of smaller items. The company has yet to establish a more regular cash flow and any libilities whether current or not will reduce the cash backing per share to around a max of 3.5 cents.
Can anyone please enlighten us on the nature of the Liabilities.
TDO Price at posting:
9.2¢ Sentiment: None Disclosure: Held
