If they were making a profit the NTA would be undervalued.
If they were winding up the NTA would be undervalued.
At least it feels as though management are winding up a little. $35m Japan assets gone. $40m Aussie assets held for sale. Some of the financial assets (TFML etc) are for sale, I think.
They are definitely simplifying things, hopefully they can make the remaining business or sell it off.
If they were making a profit the NTA would be undervalued.If...
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