Not suggesting that others (and even BCI management) haven’t already considered this - but now would be the optimum time to sell Iron Valley to MIN outright.
I think the quarterly earnings for BCI from Iron Valley were ballpark $20m with still some fat in it as BCI were repaying a royalty to MIN + prices have risen again.
Anyway, annualise the earnings to $80m.
Sell it to MIN for (say) 5yrs fwd earnings or ballpark $400 mill.
Mardie is paid for, existing holders experience zero dilution, and the valuation of the company (currently $220 mill) has to double overnight on a deal like that.
Ann: Corporate Presentation, page-23
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22.0¢ |
Change
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Mkt cap ! $634.5M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.0¢ | 22.0¢ | $1.106M | 4.915M |
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| No. | Vol. | Price($) |
|---|---|---|
| 12 | 176953 | 22.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 40304 | 1 |
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