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71.0¢ ardea resources limited

I believe we will largely free varry 40%The Japanese should...

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the squash

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31/07/23

20:11

Post #: 69088558
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Originally posted by rookieplayer: ↑

Hi @Jogoo - for what it's worth I'd say that the consortium would be looking to take at least half with a strong level of offtake also. The interesting part will be if they'll build the plant for that.

A good comparison is to look at Gold Road who sold half of their Gruyere gold project in WA to gold major, Gold Fields, which from memory meant they gave up 50% ownership and operational control. What they got though was being free carried on the optimised DFS study work and the mine and processing plant built for them essentially (I think there was a capex cap but they didn't need to put much if anything in up to production).

A deal like that would see ARL own 50% but be free carried essentially to cashflow. Simply it would also value their half at ~$3bn so a roughly 30x bagger.

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I believe we will largely free varry 40%

The Japanese should bring 2% sovereign finance.

30 bags out to 2030 is not unrealistic

even before considering how that free cash flow gets invested

ARL Price at posting: 67.5¢ Sentiment: Buy Disclosure: Held
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Last 71.0¢		Change 0.040(5.97%)		Mkt cap ! $141.6M

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