RE: RE: NAV = > 20 cents Per share Indeed a hard look at this company is absolutely essential!
LFD will net $42 million after Genel payment and amount owed to KRG is deducted. Then deduct $3.6 mil for management parachutes leaving $38.4 mil with unknown adjustments for any other amounts owing and for the cost of the Genel deal.
This equates to 21 cents per share before dividend or 11 cents per share after payment of the 10 cent per share dividend. The market seems to have settled at 16-17 cents per share and there seems no reasonable justification to expect any higher price until details of a new African deal are announced.
Personally, I dont think there is a firm deal in Africa or anywhere else and this is just smoke for the time being to placate shareholders. In any event, Bhardi & Said will be back on board to run things (or mismanage as prior events may suggest) and everyone is well advised to keep your head up.
I hope this board does not get hijacked again by pumpers who will spew endless nonsence.