Here’s my two bobs worth regarding possible takeover valuation. I had shares in Cardinal Resources which was taken over last year. It drilled out project in Ghana which totalled 5.1 Moz of which starter pit was shallow and very profitable. There was a bidding war which finally saw the takeover price reach circa A$600M.
This bidding war took place when gold prices had reached their peak last year. Ghana is a well known gold producing country and regarded as safe jurisdiction but Australia is better so some discount could apply lets
say 10 percent so that would make 5.1 Moz equal $660M.
So now its down to how many oz’s DEG prove up over time which is the big unknown.
DEG - Takeover potential - $2+, page-47
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Last
$1.38 |
Change
-0.005(0.36%) |
Mkt cap ! $3.307B | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.39 | $1.37 | $5.954M | 4.313M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 41758 | $1.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.38 | 41069 | 2 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| DEG (ASX) Chart |