I was valuing a risk-reduced* MC with expected dilution of another $20m (or 49% of) at a range of CR prices, targeting an NPV for the operation + assets for some sort of enterprise value.
The dilution hurts - at current MC, I would nearly have to triple my position for the same relative position. And CR disposal, and general risk, put a ceiling on the price, which creates more dilution for future CRs...
*we're not there yet...
ADG Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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