Just quickly re-worked some previous analysis I posted over at MEP, assumptions used can be found here.
The "Pre-Acquisition" table uses ADN's current fully diluted SOI and a 75% share of NPAT.
The "Post-Acquisition" table adds MEP's current SOI (multiplied by 1.15) and increases ADN's share of NPAT to 100%.
IMO this analysis is quite conservative as it does not include any upside from DSO/Cosmetics/Concrete/HPA/NNT/Deferred tax assets etc, although I believe this will help justify a higher PE.
As a base case, we can see that the acquisition of MEP adds ~ 9% upside to the Pre-Acquisition share price.
The downside to be considered is that ADN have now diluted all other tenements/holdings apart from GW, Camel Lake and NNT. Although, depending on how much of the current market cap is attributed to these other tenements/holdings, this may not be a significant share price driver.
**DYOR
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Just quickly re-worked some previous analysis I posted over at...
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Last
1.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $52.87M |
Open | High | Low | Value | Volume |
1.7¢ | 1.8¢ | 1.7¢ | $52.49K | 3.064M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
48 | 13370425 | 1.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.8¢ | 7630495 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
48 | 13370425 | 0.017 |
30 | 7161917 | 0.016 |
12 | 3878492 | 0.015 |
4 | 1125316 | 0.014 |
3 | 1621923 | 0.013 |
Price($) | Vol. | No. |
---|---|---|
0.018 | 7630495 | 10 |
0.019 | 2363785 | 7 |
0.020 | 2919905 | 11 |
0.021 | 1150000 | 2 |
0.022 | 408654 | 8 |
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