I noticed that on FN's report that "working capital" and "market value of investments" were blended together as one figure. So, I called the company to get the values for those "investments" (they are valued as of 3/31, of course). Here they are, FYI (in $C or $us, as noted):
C99.6mm--Inco Class VBN Shares
C42.7mm--Aber Resources
C0.8mm--Queenston Mining
US16.1mm--Duff and Phelps Utility Fund
US12.3mm--First Australia Prime Income Fund
US13.5mm--San Juan Basin Royalty Trust
In all, the market value of FN's "investments" totalled $C206,742,000 on 3/31/99. So, their working capital was $C284,800,000, or $C3.54 per share.
By comparison, EN's working capital was $C466,469,000, or $C4.61 per share.
FWIW, Fergie |
