agreed on landowners cost, another effective reduction in the bid price.
The Peak presentation is also interesting in that it says they have achieved a better outcome on price vs the NGUK transaction. The Shenghe investment in the NGUK subsidiary was going to be AUD$96 mil for 50% of NGUK or 42% of Ngualla. Peak then owning the other 50% of NGUK or 42% of the project. The Tanzanian Gov't owns free carry 16% of the project.
I'm not sure how $150 mil for 100% of Peak or 84% the project is a superior offer to AUD$96 for half or 42% of the project. Seems the presentation is potentially somewhat misleading or there's a gap in information. Seems Shenghe has an even better deal than before.
Think the Peak CEO who just received 2 mil performance rights on May 6th ,a week before the stock goes into trading halt pending a material transaction ( a bid for the company) , should explain how it is a superior offer.
The ASX announcement on the 6th May confirming his new award of performance rights is indeed interesting to observe. He's delivered so much to long suffering shareholders. Given the shareprice decay of some 50% since his appointment as CEO this issuance is indeed hard to believe!!! Timing is a wonderful thing!
PEK Price at posting:
27.0¢ Sentiment: Hold Disclosure: Not Held
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