ALB traded flat after an initial dip which tells me (so far at least) US punters don't think ALB overpaid. Otherwise their valuation would have dropped as it wasn't a good acquisition.
We absolutely have to re-rate though. Think about it this way. CE just inherited $1.6m in cash, he keeps $500m to pay for infra at Wodgina and he offers KB $1.1bn for 42.5% of PLS to bring them up to 50%. That values PLS at nearly twice what it is trading at today and CE would be replacing what he just lost, with possibly an even better resource and keeping $500m in cash.
MIN was valued at $2.3bn including cash and IO assets and ALB has just valued Wodgina at $3.2bn
Serious disconnect in markets and if we don't re-rate, along with AJM and TAW then consolidation is absolutely not over in WA hard-rock. The only real defense against being swallowed at this point though is a rising share price.
Maybe this will be enough to get insto's and analysts interested.
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Last
$3.00 |
Change
-0.080(2.60%) |
Mkt cap ! $9.032B |
Open | High | Low | Value | Volume |
$3.04 | $3.05 | $2.97 | $55.47M | 18.46M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 980 | $3.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.01 | 39640 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 980 | 3.000 |
15 | 86259 | 2.990 |
16 | 537750 | 2.980 |
16 | 356006 | 2.970 |
10 | 71774 | 2.960 |
Price($) | Vol. | No. |
---|---|---|
3.010 | 39640 | 5 |
3.020 | 448805 | 7 |
3.030 | 34412 | 6 |
3.040 | 79120 | 7 |
3.050 | 38877 | 6 |
Last trade - 16.10pm 28/08/2024 (20 minute delay) ? |
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