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17.0¢ explaurum limited

Ann: RMS: Ramelius Takeover Offer for Explaurum Ltd Presentation, page-49

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smartdude

3,005 Posts.

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11/09/18

08:20

Post #: 35510498
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Originally posted by Davisite ↑

I think the outcome is going to depend on how EXU's management respond and what they have up their sleeve. The big unknown at this stage is Mace - we don't have any information on the scale or cost to mine, nor at what stage the BFS is at. They may well have a very compelling case to stay independent.

One thing I think RMS have done wrong here is in being so dismissive towards the board and management of EXU. Mark and his team run the risk of making this personal and this is never good for the shareholders. I am hopeful sense will prevail and we get an outcome that is a win for all shareholders, but I do think this story has a long way to run yet.

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We don’t know what conversations have taken place and how professional the respective parties have been. For EXU to hold on my opinion is that they will need to come up with $100m in Project Finance ASAP.

EXU Price at posting: 10.5¢ Sentiment: Sell Disclosure: Not Held
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