Hi Goldnerd,
I may be misreading your post, apologies if this is the case, however, I have a different interpretation of this transaction.
LSX owns 33.3 % of the Pani joint venture(2.37m oz resource) with Meridika holding 66.7%.
J Resources has sold its neighbouring resource (2.3m oz) to GSM who is a subsidiary of Provident.
This will allow the combining of the two resources into one ownership group, however, I do not see that LSX will own 33% of the combined resource as you suggest in your valuation.
My rough understanding is the combined entity will have the following ownership LSX 20%, GSM 40% and Meridika 40% (I understand Meridika now control 50.1% of GSM)
LSX's Pani revaluation could be revised to reflect the price paid by GSM for the J Resources resource. I haven't seen the $ made public.
Also, the link zone that is created by combining the two resources has the potential to greatly increase the size of the overall resource.
Both should be positive for LSX's valuation.
Happy to be corrected if I have anything wrong.
(20min delay)