RE:RE:RE:PNG restart in Q4I'm less concerned with putting a hard $ figure on SGA; I think the days of 'cut SGA to survive' are past us.. don't get me wrong, I don't want a bloated organization. However, I think the focus should be on the ramp up of drilling in PNG again (the more high profit revenue stream). The recent Press Release did quote $4M of annual SGA savings from the transactions.
I think the 'story' needs to be clarified and I believe it will be over the coming quarters. I certainly see this as the floor for the share price - we are trading at a Market Cap of $70.7M, meanwhile we will have cash on hand of roughly $52M at the end of the year, in addition to a 42% ownership of "Team" (snubbing sale) & the PNG operations.. the recent snubbing sale was valued at $11M - so that would leave a value of what for PNG? ($8M?)