Shadow. You know I don't post anything with out being about to back it up.
19 Sept 07.(share price $1.14)
Diversified Australian exploration company International Goldfields Limited (?International Goldfields? or ?the company?) notes with interest the announcement made today by Australian platinum company Nkwe Platinum Limited (?Nkwe?), which confirmed it had entered into an Option Agreement to acquire a 59% interest in the Genorah Farms platinum project the Bushveld region of South Africa,....... for approximately A$275m (cash/scrip). This included 15,000,000 paid up front.
International Goldfields holding in Genorah Farms, as a result of the Nkwe transaction, has a value of approximately A$70m.
Gold field used this to value their(just quired) 15% to sell to NKP.
It's fare to say that if "an Independent" Value of $65m (finial deal) was given to Goldfield for it's 15% (apProved by NKP), then I think that it is far to say that the above A$275,000,000 stands as the Value given to "T".
I never said money had change hands, but you can bet the 15,000,000 shares given as options did, as they are not in escrow. ($17,000,000 at time of deal)
For these guys to ask us to believe that they think T was only worth $32,500,000 is laughable. 32,500,000 / 250,000,000 = 13c (GFC low) for every one of their shares for T. Remember, they want $2 for a T/O G 126m + T 250m (s)times $2.00 = $752m. Not including their 28% of the farms.
Flyby. What can I say. You say it all for me. PLEASE put me on ignore.
NKP Price at posting:
45.0¢ Sentiment: None Disclosure: Not Held
