The $US240m is not the full amount. I read it as (more than) $US400m for 24% which is closer to $US1.67b ($AU2.3b). With 3.21b shares on issue, then SP should gravitate to 71c. Happy to be corrected, what am I missing?
"CATH shall pay US$240 million cash for their 24% equity interest and a further amount to fund their pro rata portion of funding for the development of the Manono Project." "The transaction in totality will contribute more than US$400 million, subject to final project development costs being verified*."
AVZ Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held