Ann: Tiger signs binding agreement to divest DRC operations, page-24

our current market cap is around 100m and given we have debt thats really what the market thinks we are worth after accounting for debt

The payment is 250m of which 209 goes to debt leaving 31m USD or 50m AUD in cash. We have three years of royalty which are up to 50% of revenue so i think its fair to say if things go well thats worth the other 50m.

BUT overall its a breakeven deal amounting to the current market cap. In otherwords we are not paid a premium and the price given is at our lowest point. I was invested for a higher upside via copper price and low cost production. To be handed back the current market cap isnt great unless A) there are better opportunities - If TGS doesnt have any i rather the cash back or B) The fixes needed are beyond what we can manage to do. The quarterly will explain the latter.