People over-reacting here. GF spent $100million AUD for 5% of our stake.
Meaning our 45% stake was worth $900million AUD = ~90cents per share.
Now our 40% stake is worth $800million AUD =~80c. People calling 20c are really uneducated or taking the piss. The lowest this will go is 40c.
Interesting note, the first tranche of $50million AUD is to satisfy the government pay out. The second tranche of $50million AUD is given if the pay out is made and government is happy. Basically, GF is doing as much as they can to help LLL and get this issue sorted out.
Moving forwards, I think the gov will take up their 20%. Meaning:
GF: 48%
LLL: 32%
Mali: 20%
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Ann: US$65m for 5% sale of Goulamina and Continued Suspension, page-104
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