Used a 25-35% change of control premium when 54% was the average fore 2010.
RUM SP 45 cents when VWAP for March 54 (and 49 for Feb).
No Lake Lefroy drilling update.
Used a market value approach for valuation when by the IE's own admission the market for AAG isn't 'deep' enough for it to be a realiable indicator (i.e. open to manipulation).
Using 32.5 as the valuation point is meaningless. AAG currently trading at 26.5, almost 20% lower. Makes the change of control premium negligible.
I'm sure there's more if I can be bothered digging further. Are we talking up or down our company?
Overall the transaction makes sense but the price sucks IMO.
AAG Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
