Ann: Transformational acquisition of the Ekati Diamond Mine, page-75

thanks everyone for adding these scenarios.

to me, the variance on raise price and therefore final SOI is relatively minor. anywhere between 800m to 1.2B shares post-raise is my guess

the key question is the valuation that new investors place on the limited future cashflows. i had thought lucara were trading higher, but if its only 2x ebitda then thats significant.

to me, the likely price/ebitda range is between 2x and 4x, so thats the key variable in terms of implied eps and relisting price. and it comes down to the liklihood of BDM accessing those resources in fox underground dev, or getting the underwater mining going. so i hope they have a good plan and a good story for their roadshow.

i hadnt included any value for ellendale anyway, but thats clearly a zero now. botswana a zero. nauujat might ascribe a notional value, but its all about ekati