So because there remains a capital expenditure requirement of $20-$45m someone will be prepared to pay top dollar? For some reason Daryl Kerrigan comes to mind.
Even if they managed to pick it up for $5million and only spent a further $20million there is no feasible way to make a return on that outlay, without either sale of shares or property.
Somehow, I think Kenny may be needed at your place soon.
I stand happy to be corrected, but didn't the prospectus state that ~25,000 rounds per year on the Fingal course would provide the revenue to run both courses. Given there would only be the requirement to fund one course (and Fingal would never be as good as the Gunnamatta), then there should be ample opportunity for return. Or weren't you thinking when you read the prospectus?
The prospectus did indeed say less than 25,000 rounds per year would provide the revenue, so congratulations to you for picking that up. But that was to run two courses, not pay for all the expense in the first place and deliver a decent return.
You also neglected to mention, or perhaps couldn't find, the part where income from Gunnamatta guests, unaccompanied guests, corporate days and apartment owners was part of the funding mix, so you would in fact need a lot more than 25,000 rounds.
Any idea yet where they are going to come from?
And I did say 'a likely' scenario. Of course there are plenty of others.
You did indeed. You also said "I cannot imagine", which is a much firmer conviction than "likely". So can you please clarify which position you hold, assuming that now you are using your real name you actually have a conviction.