the takeover!, page-2

Completely disagree asx. Of their own accord, the planets were moving into allignment to boost the market price. conquest knows this. Consider just the latest trading.

May - last reported sale price A$1,365 v's cash costs of $700 and all up costs incl depn and amort of $900. The reveune is much higher now, but lets just run with that:


Cash margin $665 x 36,000 ozs = $23.94m pa
Net Profit (b4 tax) $465 x 36,000 ozs = $16.74m pa


Pajingo is a cash cow, beautifully positioned for milking after 18 months of preparation. Our suitor is well aware of that.

If you were concerned about the current share price, the immediate issue was that holders believed good times were ahead, but their overall gut conviction wasnt yet strong enough for sellers to withdraw, as a group, to higher prices. All that was needed way a couple of quarters of big reported profits to firm up that conviction in a big way. The stars were in allignment for exactly that.

I can think of some ammo that NQM has yet to fire in this little tustle.