Ann: Revised non-binding indicative proposal from Newmont, page-121

I reckon the market is only pricing in the 1.1 USD permitted dividend at 50% discount and without the franking credits so 0.55/audusd + 0.4*NEM/audusd seems to track pretty well with the movement. Hence tomorrow's price would be roughly $26.82

sadly to speak the full value of take over is at about $28.36
with POG hammered by the banksters.
given NEM fair value is $56+ we would only be worth $33.50
long way to go back to $85+ nem and we will be valued at about $48+ which is possible if they keep cost down and keep hedging short term to get the most out of the gold production NEM is good at that I believe