At rums current share price, this offer is only valued at around 2-2.1c (similar to their previous offer's value at its time when RUM shares were at 21c and not 13.5c)
In my opinion it is irrational to claim that this offer provides a value of 2.88 cents to CEN shareholders, because i can buy rum shares on market for 13.5-14c, so that is its value, not some fair value as given by a valuation.
if that was the case, one RIO share would be of value $70 to me? No. its valued at $54-55 to me because that is what I can pay to own it..
In my opinion monument mining is still a better deal given the currnet value of a RUM share. monument offers to buy up to 51% of CEN at over $8, valuing our company at around $16-17m. Not only that, with a nice cash injection (although diluted) shareholders will still reap rewards from what is in the ground (which we all know is worth a lot more)
CEN Price at posting:
1.9¢ Sentiment: LT Buy Disclosure: Held
