Please check my math:
- NMDC pays 28c/share to be issued with the same amount of share LCY have now. It makes NMDC 50% holder of the new LCY.
- The cash equates to 14c/share of new LCY.
- Pre-trading halt 13c/share is the value of old LCY, without the cash mentioned. However, I would be conservative and use 10c/share value of old LCY as the 13c/share has NMDC deal rumor in it.
- This makes conservatively 10c/2+14c=19c a share of new LCY.
So the bet is on, would you think the deal to go ahead at that 30m cash then you could make 40-50% gain in months ahead. This doesn't take into account the value of the advance of Mt Bevan project as time goes.
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