The NPV for the project is approximately 1.3billion AUS. The market cap for ORR is approximately 200million. A reasonable valuation would give a market cap of 600million. That is three times the current share price. This is ignoring the current increase in the gold price. A total valuation for the takeover closer to $1.50 per share seems reasonable.
Ann: PRU: Perseus acquires 15.03% interest in Orecorp, page-45
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