As of 12/31/12, CEN has net assets of $1.47 mil AUS$= $1.53 mil CDN$.
For the 6 months ending 12/31/12, CEN had revenues of $90,978 AUS$, and a net loss of $1,228,000 AUS$.
For this Baldock proposes to pay $18.3 mil of our cash.
Another company RUM (in a related business to CEN) had recently offered $12.7 mil 2.15c/share) for the company. Baldock's bid is nearly 50% above that. Fwiw, it's worth, CEN had recommended that stockholders reject RUMs offer, saying that their stock is worth about 3.5c /share. Baldock's offer is a little less.
Sure can't say things are boring with Baldock. He seems to be paying near top dollar for a future development /exploration company in another foreign country that he has no experience in. I also see that CEN indicated that MMY wanted the negotiations to remain private. CEN felt they had an obligation to disclose this to their stockholders so MMY was forced to announce it. Otherwise we would all still be in the dark about it.
I haven't done anything more than superficial DD on CEN so I can't even give an opinion as to whether this is a smart move or not. But once again, it seems to me that Baldock has put the cart before the horse with the engineer's feasibility report on Mengapur, which is a big part of this, not expected until the end of this year.
Here's a link to further info for anyone interested: