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$4.69 saracen mineral holdings limited

Ann: NST: Northern Star and Saracen agree to a Merger of Equals, page-129

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Hotstopper

2 Posts.

6

08/10/20

20:40

Post #: 47956927
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Originally posted by Au9999: ↑

My view is It's an 'ok' deal for SAR and only considering the higher multiples the merged co will likely generate.

On the other side, It's a fantastic deal for NST!!! Picking up SAR's quality assets without having to pay any premium borders on theft. Particularly given this deal will slash NST's bottom line AISC which has been on a steady incline.

It should also be highlighted that this deal was done at a time when the SAR SP had dipped 21% from its recent high.

I held both NST and SAR for some time. I then decided that SAR offered much better value and greater leverage to the super pit upside, so I sold my NST holding. I therefore can't really swallow the "merger of equals" rhetoric.

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Have you forgotten that SAR shareholders have just picked up 36% of Jundee, 36% of Kundana, 36% of EKJV, 36% of Kanowna Belle, and 36% of Pogo? It wasnt just NST picking up Saracens assets for nil premium.

SAR Price at posting: $5.90 Sentiment: Hold Disclosure: Held
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6 Great analysis

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