RE:RE:HWO: don't think ppl understand the situation, have a read Sure, that math shows there is value.. however, IMO value would be greater if PNG co was spun off into a publicly listed ASX.
A) You wouldn't need to add additional capital
into something you already own (potentially $0.25+)
B) You'd have the optionality to sell whenever you'd like for certainly > $1.00 in the coming years as PNG LNG ramps
C) None of the above impacts the ability of the company to return $0.75/share as a ROC in a few months
The ONLY REASON that management is considering spinning out as a private company is to squeeze out retail shareholders and allow for Cyrus to take ownership % over 50%.. Cyrus will then hold for 2-3 years until LNG activity has a lot of momentum and then they will either sell the company OR list publicly on the ASX at that time (making many multiples on their investment if they are trying to argue $1/share value now).... oh and in the meantime, as the company is private and out of the limelight they will line their pockets with exhorbant salaries/directors fees at the expense of other shareholders in the private co.