I don't agree with your figures. The 85% return (MTC witholding 15%) is the best case scenario for shareholders. They have stated that they actually need $12.7m to develop Sauvolles. You have also neglected to subtract any tax from the payout.
all figures in $ AUD
Initial Payout = $84m
Payout after Subtracting Company Tax = $67m
Payout after MTC withhold $12.7m = $54.3m ----> SP ~ 28c
This is assuming that they successfully acquire the permit (which is no guarantee). If they don't get the permit, then it will be more like 16c.
I don't agree with your figures. The 85% return (MTC witholding...
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