valuation is a farce, page-3

""163. On the basis that Mosaic has been unable to realise value from the Silver Springs
facility and the value recognised by AGL in relation to the asset appears to
represent special value which only it can realise, we consider that the value of the
storage facility on a fair market value basis is zero."

How can the MOS directors, and PW & Co say that the UGS project is worth nothing, when AGL has based a multi million dollar contract and business, around that very asset?"

Have to agree. While it may be a fair statement to make about the asset outside the deal, this report was commissioned due to a specific transaction where the asset clearly does have a value. Denying that doesn't reflect well on them.

Just because it's an asset that only has specific uses to some entities doesn't mean it has no value at all. It may not have had immediate value to the current owners, but the implication they should give it away because the current owners have no use is not a 'fair or reasonable' valuation in my view.