We are currently valued (mc) at around the cash price of the proposed deal, the assets of Kharmagtai and Red Mountain, at the moment, are being ascribed no value what so ever, but the proposed deal still has to be ticked off and go through.
If ASX or TSX knock back the Zijin proposed deal, does Zijin still end up with 10 percent of Xanadu from tranche 1, we get a small Capital raise at a premium to keep drilling out the resource, and perhaps Zijin gets Copper Concentrate guarantee through minor ownership over the proposed Oyu Tolgoi Refinery.
Xanadu then looks to the next possible suitor. Just a thought.
XAM Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
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