You've obviously done a truckload of work on these numbers.
Reading what you've done it would infer that if the assets have held their value from the 2003 Independent Report at the low end of $1.04 billion, and with approximately 250 mill shares on issue now on issue (both ord and pref) then the shares would have a fair value of around $4.00 ?!?!?
Even if a bid is made below this $4.00 market value by the majority shareholder you would imagine that it would be substantially more than the current SP and still leave value for the proposer...
Cheers John
VRL Price at posting:
$1.40 Sentiment: Hold Disclosure: Held
