Ivanhoe offer in mid 2022 was much higher about AUD3.50/share to be paid with Ivanhoe shares which were about CAD$7/share at the time and tripled thereafter to about CAD$20/share. Not to mention Renergen would be much further advanced now if a deal.done 3 years ago.
However Ivanhoe today about an CAD18b marketcap so easier for upside from a ASP-Renergen entity starting at about US600m marketcap if you consider the potential for US300m/yr ebitda from Renergen alone.
Anyway given there was an Ivanhoe offer of about AUD3.50/share back in 2022 might mean another player could potentially make a competing offer to the ASP one.. About AUD1.12/share offer from ASP disappointing in comparison and a reflection of lack of progress on P1 etc..
RLT Price at posting:
79.0¢ Sentiment: None Disclosure: Held
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