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clock Created with Sketch. 30/06/21
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Originally posted by 1982:
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Yeh, how dare BMV issue shares to acquire an asset. They must be the first penny stock to think of such an outlandish thing to do.'The Independent Expert derived the price of Southern Gold's 50% Joint Venture Interest to be paid by assessing the projected cash flow forecasts using a gold price of USD1,440 per oz. This was then discounted by 15% to determine a net present value of the projects and then for good measure was further reduced by 50%. The resulting number was then divided by two to determine the value of Southern Gold's 50% stake which in terms of the Joint Venture agreements was reduced further by 10%. Accordingly, the price of the Acquisition was determined to be USD9.945m (c. £7m) which is the settlement figure as announced previously on 30 November 2020.' Colin Patterson, CEO, commented:
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BMV up 30% so far so might end up being a good buy.
(20min delay)