The sentiment currently is .... those cash flowd are not going to last forever
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Has NZO the management to do something like that?
AWE & VPE have made some changes after being in the doldrums for some time, but are now getting on with it.
AWE will probably double its S/P over the next 12 mots. or so and VPE has more than doubled theirs in the the last 8.
Mind you the nzo man. seems to be quite happy meandering along as it has for quite some time, getting well payed for it and life is good.
Lots of incentives issuing new shares for staff on 1 cent deposit faster than the co. buys them back. Displaying magnificent skills in the process.
Making no apologies for being a bit cynical here, its such a hoot..
I see another negative news release regarding the PRC impairment and am wondering why this negative news needs to be released right now by itself and cannot wait til the full six month disclosure?? I assume it is because it is to keep the market fully informed, yet the profit & cashflow generated can wait for the six monthly result? Another very poor release & timed perfectly to take out the stuttering recovery that had begun in the share price.
dsurf i think its much of muchness. More of an accounting issue than anything bad.. ( apart from the fact that mine is not sold yet )
Agreed it is just an accounting issue, they don't really have any choice but to take a pessimistic position, accounting standards virtually demand it.
Only thing the announcement told me really was that the actual sale of PRC still is a way off.
My gut feeling is that the sale of PRC will be a good result for NZO. So the advantage of writing all the value off now could be that they will get to write it all back in again when the sale actually happens.
Personally, I think the further writedown represents a 'true and fair view' of where things stand. I dont buy the story of them taking an overly pessimistic view - disposal of this mine is fraught with difficulties and IMO is a very hard sell. I dont expect NZO to write anything back up and it seems to me they are wanting to put the whole sorry affair behind them and move on (with all due respect to the lost 29)
My thoughts in a nut shell Xerof..
As Aunty Hulun would say .. " nothing to see here... Move on "..
HEY you guys take it easy, you can not rush this and take the building of castles in the air away from the dreamers, they have to be let down gently.
Stark reality is not easily accepted by them, even tough they had a fair and long crack with wishful phantasy sing at it by the time this has been put to rest.