When Apollo Consolidated was taken over by Ramelius recently, after a bidding war with Gold Road, they paid $181 million for a 1.1 million ounce resource.
Implying a $164 per ounce in the ground.
And located in West Australia.
TIE have a resource at 3.35 million ounces. Located in West Africa.
At the same $164 per ounce , that gives 550 million, or roughly 55 cents per share.
Likely a predator would offer between 60-80 cents per share, a premium to try for a quick kill.
Fair value ?No idea.
Would I sell between 60-80 cents per share ? . Not on your life !
Would our major shareholders sell between 60-80 cents – Maybe . And then my shares would be compulsorily acquired.
I really hope not, as I see much more potential for Tietto .
