Bigger question is how will TSX view this deal? Feel like ASX is always erring on conservative side when it comes to pricing potential beyond the bleeding obvious for deals like this. Today's trading was clear cut example, whereby price stayed inline with 4cps deal at XAM level, ignoring US$35m purchase price that's paid upfront to just enter the JV (with bucketloads cash going to XAM)...just wondering now when whole deal will be properly valued. ALSO when do we finally see market starting to value XAM properly for what it has. Zijin has looked under the hood, so clearly seen something the market has yet to price in.... Interesting that this is the first project on the ASX to get their attention in a long while...
Hopefully we'll be off to the races very soon!
XAM Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
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