So Kidman received $1.90 per share for their 50% ownership of the lease. They must of he around 410M shares. This is close to the number of shares Azure has which is around 460M. They were recently trading at $4. now down to $3.57. We now have around 2.1B shares so 5 x more shares. If we were to hit it big I would expect somewhere around 50c per share at a guess (median price diluted by share number). I would therefore expect a consolidation at some point to lower the share numbers and maximise the value. Just thinking out loud.
GD
LNR Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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