Fedexpress,
The Andersons deposit has NOT been factored in.
Effectively the valuation metrics that the brokers are using to value the takeover offer are only taking into consideration Valhalla and Skal - thus giving an EV/Resource of $US23.63lb (at the time the offer was made).
The SXR UO paid for UrAsia valued their resources at $US31.61lb.
The valuation of $US23lb does NOT take into consideration, the "100% mt Isa Deposits" - Andersons, Mirrioola, Watta, Bikini, Tjilpa, Warwi and the other additional 15 known mineralised deposits.
It also excludes:
- Isa South (9 contigious tenement applications ).
- Georgina Basin (greenfields Uranium)
- Isa North (Base metals)
- May Downs (Gold)
- Constance Range (Iron Ore spin off)
- Mt Kelly (Copper)
IT IS ALSO ASSUMING that SMM is only entitled to 50% of the Valhalla/Skal Resource.
The arguements that they are using is that it is a 25+% premium to ERA and PDN - and 20% premium over other Uranium explorers.
TheGimp
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