ZAG 0.00% 1.7¢ zuleika gold limited

From the independent report: "we believe an approximate current...

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    From the independent report:

    "we believe an approximate current valuation of the business of Aurigin Foods is in the range of $400,000 to $600,000 with a mid-range value of the business at $500,000."

    So effectively after loaning Aurigin Foods $500k (unsecured) and an estimated $100k of our employee/management time (which was funded through salary/fees), DAU has risked $600k for a $166k slice of the new entity.

    Furthermore we can expect AAL to raise an additional $1-2M capital, no doubt this will be offered on very attractive terms, maybe even to the DAU shareholders who help get this deal over the line. After this CR & dilution via performance rights, will DAU even own more than 10% of the new entity after taking all the risk?

    I have seen some shocking deals in the small cap sector over the past 10 years, I think this is probably the worst I have ever seen.
    Last edited by Bullion Baron: 16/01/18
 
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