Current Cash: $10m (incl. $2m exploration costs)
Enamco payment: $32m
Offer Cash: $80m (excl. tax implications)
Shares o/s: 250m
Gross cash: $0.49/share
+ exploration upside
I agree this is positive relative to the current share price, but I question whether the $80m offer is reasonable compared to comparable relative valuations. An independent expert's report would likely conclude it was low compared to trading and transaction multiples.
Use of proceeds - How realistic is it to assume mgmt can invest the cash in another project with better prospects than the koka deposit?
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Last
$1.08 |
Change
0.060(5.88%) |
Mkt cap ! $420.1M |
Open | High | Low | Value | Volume |
$1.04 | $1.10 | $1.03 | $1.879M | 1.756M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 26588 | $1.08 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.08 | 1161 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 15736 | 1.075 |
40 | 213429 | 1.070 |
8 | 41984 | 1.065 |
9 | 112169 | 1.060 |
6 | 30234 | 1.055 |
Price($) | Vol. | No. |
---|---|---|
1.080 | 11667 | 12 |
1.085 | 27108 | 10 |
1.090 | 58190 | 11 |
1.095 | 136930 | 8 |
1.100 | 314075 | 17 |
Last trade - 12.26pm 20/08/2024 (20 minute delay) ? |
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