It makes sound commercial sense for the Board of NXS to consider all commercial propositions, even those that have come later. I would not necessarily conclude that this implies that the first propositions are of little value or indeed too low in value.
Notwithstanding, the commercial equation for NXS is now becoming most attractive for any suitor as current market conditions negatively impact the SP. With a market cap of $250m, an enterprise value of $450m and a intrinsic valuation for all the NXS projects of $2.5b, imo it makes little sense for a potential partner to spend $300m on a portion of Crux when for a marginally larger spend (but still cheap nevertheless), a partner/suitor could pick up the complete suite of projects (some not on offer) and end up clearly with a bigger bang for their buck?
The current scene appears now to favour a T/O play and given the respective values listed above, a first up ambit bid would probably have to be somewhere around enterprise value?
commercial equation
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Last
22.5¢ |
Change
0.020(9.76%) |
Mkt cap ! $65.63M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 22.5¢ | 21.5¢ | $55.65K | 251.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 75904 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 18775 | 1 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| NXS (ASX) Chart |