The market does think that the assets are worth squat. I would like for SRK to hold on to them for the next 12 months and see what they can make of them - including Cuervo.
The price is reflecting that we will win the shootout - it would not be this low if the cash was coming. The problems may then start. Will D&C just go away without a court battle? This could be protracted and costly (which we cannot afford any more). This would also close things down for quite a while. Maybe that is being factored in - the risk?
If I was the Indonesians I would be waiting for SRK to run out of cash then turn the screws tighter. Why else would they have been very patient?
Quite negative here but I am still very positive about the prospects of this company once they get over these hurdles. The joint venture partner will be the key over the coming months. And I agree - maybe even an outright sale.
The market does think that the assets are worth squat. I would...
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