Let’s hope @coldwarkid80 brings AKE SP a bit of luck.
To be honest i would be happy with $15.40 to start with (i think x 16 PE is overly optimistic). A good 25% upside.
The merger of equals has turned out to be a disaster for both camps.
Current SP gives GXY assets based on fully diluted at merger announcement of approx $3.6bn and ORE assets around $4.2 bn.
$3.6bn?? What a disaster. CXO has an MC of $2.6bn, I’m not knocking CXO as i own a fair few, but its no where near GXY assets of Mt C, SDV and James Bay. Cash flow would have funded development . Well done Simon on going spot pricing only!!! Made ORE pricing look like a complete shambles.
Day before merger announced MC’s were:
GXY $1.86bn ORE $2.16bn Combined $4.02bn
PLS $3.8bn
Today AKE $7.9bn PLS $9.3bn
See that!! AKE under performance MC, a staggering 19% compared to PLS.
Where are the synergy benefits?? It appears created a bigger monster for mediocre management to run.
You mention Naraha, what poxy excuse do you think they will conjure up for further delays??
AKE Price at posting:
$12.40 Sentiment: Buy Disclosure: Held
