Ann: Toho Transaction Completion, page-52

both have advantages, A TO offer would have to be at a premium to current cap.. Bloomgold would be integral and considering they have significant leverage the price would be whatever they are okay with. Taking TO money and running would mean cash now and less risk. Waiting for production and LOM would mean more risk but peak value (in a full dividend scenario). A TO bid would not be at NPV values

I’d be happy with a value = to 70c/share TO bid even though I believe the SP will push past that on it’s own.

Either way we are on a winner here. Kingfisher money should go in soon giving us +$30m in the accounts pre DFS tranche which is exceptional on the ASX for a company in our position.

After the last Ann it is evident that manhours are being pushed into DFS in order to complete Debt milestone Tranche which will push us +$150m in accounts within months from now. If all continues to go to plan of course