So I reckon the total asset could be worth $10mill to $20mill ( Guess ) You reckon its worth $35k. Let's see who's closer to shareholders gaining any value from the deal !
Pf1 for its 70% ownership gets $7mill in shares ( Risky IPO ) between 5,950,000 and 6,650,000 performance shares and a fixed royalty of USD$0.70 per metric tonne (conditional of course ) Or we could off split 35k between all shareholders and received about, well not a lot Lol !
So yeah IMO for asset worth "Nothing" ( $35k) to PF1 shareholders according to a few posters on the thread including yourself, I think this is a cracking good deal.
The last bit of your post gave me a visual and did make me laugh
Ann: Divestment of Hamersley Iron Ore Project, page-11
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