ARL 3.30% 47.0¢ ardea resources limited

Hello all.With regard the spin-off, it will be a challenge to...

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    Hello all.
    With regard the spin-off, it will be a challenge to get the numbers right. 
    A 1 in 10 in specie allocation will value the new company at $2,000,000 at 20c float. If fundraising is sought for $5 mill, it will be too heavy a dilution for existing shareholders. So Sally's 1 in 5 is much more likely, maybe with a 50c float price. That would value the assets at $5 million, and a float of 10,000,000 shares at 50c bringing $5 million working capital. Making the startup value about $10 million and a registry of 20 million shares (very tight). On this scenario, shareholders would affectively receive a 5% dividend, and a stake in a serious gold mine. 
    ARL was worth $8 million, with capital raising of about $6 million, giving a startup value of $14 million. 
    All IMHO.
    BE
 
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