MNS previously advised they would progress the project, I'm highlighting potential of just one small part the business in light of your previous statement in which you stated in your opinion MNS was overvalued. (see Post #:36017547)
You previous statement advising that you would be less bearish at a valuation of $50 to $70m in my opinion is simply unlikely to happen. Sure its possible if there was another GFC but in my opinion apart from another GFC I just don't see your valuation happening.
No doubt discussions are ongoing in the background re financing which we are not privy to (whether that be with banks or an investor to provide funding in return for a % of the project or even possibly converting the entire project to cash is yet to be seen) as MNS have stated in the past they are still committed to the project.
At the end of the day it is great to have options , I 've highlighted that NPV on that project was equivalent to $2.39b AUD after development costs have been recovered on just 5% of the site with possible upsidewhich is not even the focus of the business moving forward.
Show me your proof that the project will never be completed, or never be sold / converted into cash? You can't because at the end of the day it just your opinion.
K
MNS Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
