Not far off what my guess on the other thread was...
- a chunk of the money to fund the remaining capex (but still a US$20M shortfall) but basically not part of the deal as it would sit in EnergyX's wholly-owned subsidiary who would own the assets, so you can remove this from your consideration;
- US$50M in EnergyX's untraded scrip which is a Puerto-Rican domiciled company... given the reputation, you can remove this from your consideration;
- Which leaves US$50M in cash or ~A$76M which is basically the current undiluted market cap at 16c.
Once you factor in deal risk, time value of money etc, this is a complete nothingburger.
Ann: Galan Response to AFR Street Talk Article, page-15
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