Total consideration is still $600M which is only AUD$46/Oz of Au oz, as ore or mineralization ...
In my personal opinion, they sold out the SBM shareholders
$USD 50/ Oz is the very minimum an exploration company should sell its per Au/ Oz for when considering costs of IPO, initial exploration, and then drilling costs.
Then it begs the question of why they gave the developed mine with an operational mill away as well.
It's a bad deal.
Will shareholders be given the GMD shares?
No,
The same board that disappointingly sold off our assets at a considerable discount will control these new shares.
SBM Price at posting:
61.3¢ Sentiment: Hold Disclosure: Held
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