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56.5¢ orecorp limited

Ann: PRU: Perseus acquires 15.03% interest in Orecorp, page-33

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nordesmic

4,322 Posts.

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28/11/23

22:26

Post #: 71156251
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Originally posted by grunyans ↑

Dont disagree but my reasoning around the new premium was the price that the heavy hitters paid for their shares and the time that have been in them.

I think (similar to PRU) , that the after the deal settled they could see significant upside to SVM. The deal with SVM had the potential to change that company long term and I think it could have made the deal look sweeter.

Just a presumption that the ORR big boys will want more than the original offer and they will need to see some upside somewhere.

Personally, I think PRU are highly undervalued and if a scrip offer became available then I would have no issue holding long term.

Can I ask why the Orca deal had such a large premium?

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I don’t really know why there was such a premium for Orca. Orca had always been massively discounted to on paper project value by the market due to Sudan risk. Presumably the large Orca shareholders and management needed something decent to give it up.

ORR Price at posting: 46.0¢ Sentiment: Buy Disclosure: Held
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