http://www.odt.co.nz/news/business/3...ts-exploration
Printable View
$96 mil in cash, 336 mil shares on issue = 28.5cps.
Rest of the company valued at Jack s.... (Or about 60 mil)
And that's without the 48% of Cue and the $21 mil of cash they've got.
So what is the market telling us?
At one stage, cash was 70% of NZOG's sp.
Has not stopped NZO being one of the biggest dogs in the market. Sp back to where it was in 2000! 16 lost years for those who 'never' sell.
Meanwhile, as I have suggested before, switch to a company like OSH and you have outperformed this dog by over 250%.
https://www.nzx.com/companies/NZO/announcements/286670
Pontius Pilate leaves the scene.
He would have been remembered as a honorable, moral and caring man of integrity if he had done or tried to do the right thing by the families of the 29 dead miners.
Instead, he will always be remembered for being a gutless Pontius Pilate.
PS. A sudden short notice resignation like this always tend to point towards discord between CEO and company. Interesting times ahead for shareholders.
Here he was, just last Friday, talking up how wonderfully positioned NZOG is. Something happened over the weekend?
http://www.nbr.co.nz/article/investo...rofit-b-192311
You always have to be a little cynical when leaves to pursue "other business interests", about 3 weeks after his resignation is announced. So a short time frame and must be some good business interests to leave a 700k+ pa position.
With Pike River have to look towards the board also, rather than just one individual. In such difficult and tragic situation I would have thought the response should have been led by the board.
Shareprice was about 70 cents when he took over
Hasn't really done that bad
So a short time frame and must be some good business interests to leave a 700k+ pa position.
Mind boggles, don't even want to speculate on the no. of reasons for him leaving.
But certainly hard to imagining any body giving him a job for even a fraction of what he got at NZO.