RE:RE:Vote of confidence from MaguireMarket is valuing the PNG business at barely 10-12 million (just the value of cash) probably because there is no revenue visibility.
Imagine a situation where major projects are shelved or delayed indefinitely and the company is just burning cash paying executive salaries and costs associated with a public listing.
The entire resource sector in PNG is dead in the water right now, petroleum minister was arrested earlier this week in Australia, there were major riots in January, overall the risks are quite high. Unless I'm missing something, revenue will be zero or close to zero for the foreseeable future. The only way out is to find a buyer which can be the government.