I'd say 10c is a better example lookIng at the perIod 2015-2018, ie you could sell 40c worth of EXU shares for 42c...but before EXU shareholders lost their nerve in the past few months when the gold prIce was fIrmer, EXU was about 12.5c, so let's calc It again.....12.5 * 4 = 50c. RMS without a EM's mill spinning fully loaded is not worth 42-50 cents, even wIth A$1700/oz unIt revenue. given the retail flavour of the EXU register, my vIew Is that EXU shareholders ought to hold their nerve as this bid just returns long-standIng holders their money. furthermore, and pwrhaps most importantly, RMS needs thIs deal to close more than EXU, who can just carry on, firm-up Mace, wait for the gold price to recover and take a posItIve FID. If one has any term structure In theIr decIsIon, and i appreciate some have taken a speculatIve positIon sInce the DIggers & Dealers Co conference, NO to the first bId Is a no-brainer.
EXU Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
