Thank you for the explanation. I guess I would be a bit more aggressive than you in the sense that I believe EGL should be trading right back at levels it traded before the Transcor debt got contracted in 07 when EGL had less assets and no competent management to run the team. That's in the 70-80cents range.
But I agree with you in the sense that investors will only start looking at this counter once the debt situation is resolved and announced to the market.
Until this moment (which according to the indications we had in the annual report seems pretty imminent), I don't see te share price fully reflecting the real value of the existing assets and its potential.
But at 38c or so, the risk reward is pretty attractive to me.
Bartom
EPG Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
