I think $60M is ridicoulous offer... and LCY should reject.
Even at $120M for LCY total value and 80% price for Mt Beavan.
Mt Bevan Value if indians are offering $60M = $96M
We know we have over 1.5B Tonnes of High Grade 34 FE Ore and potential of alot more and other metals.
If I were LCY, I would just capital raise $3.5M take 60% of 1.5B tonnes in producing this. This is without other finds on the site..
Does not make sence to accept $60M for 50%. Share holders would revolt.
Mt Bevan in ground is worth more than $96M asset value, LCY would be stupid to take such an offer.
With ore at about $1.70US a tonne, what is $96M valuation. A joke I say... with potential of 1.5 - 2 Billion Tonnes.
Maybe they missed a few Zeros off the $60M estimate.
or have I missed something?
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word on the street - 40 to 60 million offer, page-53
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