I'm not sure if I would classify this as a decent offer.
As per the latest presentation other players in the region are trading on EV/reserve multiples of +$200/oz. The $80m offer comes in at $175/oz.
Who receives the ENAMCO cash payment of $32m?
CHN becomes a cash box, albeit with good exploration prospects. Surely the market would place a large discount on the Zara free company due to uncertainty on how the cash would be spent/invested.
We'll see the details tomorrow I suppose.
china deal?, page-8
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Last
$1.82 |
Change
-0.050(2.68%) |
Mkt cap ! $706.0M | |||
| Open | High | Low | Value | Volume |
| $1.83 | $1.86 | $1.78 | $7.657M | 4.214M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5034 | $1.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 13191 | 1 |
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| Last trade - 16.10pm 31/10/2024 (20 minute delay) ? |
| CHN (ASX) Chart |