Assuming our asset worth 5c/share after dilution of NMDC deal (number of shares increase 100%), NMDC to acquire 50% of LCY via share isssue and 30% premium of having NMDC onboard. My calculations are:
40m deal:(17.5c/2 + 5c)*1.3 = approx 18c
50m deal:(22c/2 + 5c)*1.3 = approx 21c
60m deal:(26c/2 +5c)*1.3 = approx 23.5c
Remmber that LCY issue shares to NMDC so if they acquire at 17.5c/share, it will effectively inject 17.5c/2 cash per share after dilution.
word on the street - 40 to 60 million offer, page-22
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