Current Cash: $10m (incl. $2m exploration costs)
Enamco payment: $32m
Offer Cash: $80m (excl. tax implications)
Shares o/s: 250m
Gross cash: $0.49/share
+ exploration upside
I agree this is positive relative to the current share price, but I question whether the $80m offer is reasonable compared to comparable relative valuations. An independent expert's report would likely conclude it was low compared to trading and transaction multiples.
Use of proceeds - How realistic is it to assume mgmt can invest the cash in another project with better prospects than the koka deposit?
china deal?, page-11
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Last
$1.08 |
Change
0.055(5.39%) |
Mkt cap ! $420.1M | |||
| Open | High | Low | Value | Volume |
| $1.04 | $1.10 | $1.03 | $1.933M | 1.807M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 40 | 214812 | $1.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.08 | 397 | 4 |
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| Last trade - 12.42pm 20/08/2024 (20 minute delay) ? |
| CHN (ASX) Chart |