Don't you like how in the revised DFS post the takeover announcement and the failed attempt to attain finance we see the much more realistic DFS which downgrades the NPV and IRR considerably to US$383m and 25% respectively.
I am looking forward to seeing how the "expert" report legitimises this law ball offer.
I have had some bad recent experience in this department. I welcome anyone to go back and look at the Strategic Minerals (ASX:SMC) threads concerning the compulsory takeover of the minority shareholder interests of that company. One of the most significant undeveloped gold projects in North Queensland with a resource of 2 Moz (predominantly measured and indicated) at just under 2 g/t was "purchased" for just shy of $50m. This project is now in the process of being developed. It will be a sizeable operation, comparable in scale to Awak Mas with a much higher grade and in a better jurisdiction.
Please forgive my cynicism and I hope I am wrong but I get the distinct impression the management team at Nusantara are more interested in getting this deal completed than trying to maximise what shareholders receive for their shares. "Independent" expert reports in my experience tend to reflect the sentiment of the management teams which arrange them.
