Hi MSF
With regards to what price Polo may have sold it's EXT stake for, we have a guide from EML and Regents sale to Itochu of their KAH stakes.
Quote
"March 26 (Reuters) - Japanese trading firm Itochu Corp will buy a 15 percent stake for 8.5 billion yen ($92.28 million) in London-based mining company Kalahari Minerals Plc , the Nikkei (news) business daily said.
The move will give Itochu (Munich: 855471 - news) an effective stake of 6 percent in Rossing South, a 60 billion yen uranium mining project Kalahari is undertaking in Namibia, one of the world's richest sources of the radioactive metal, the paper said."
So effectively Itochu paid US$92.28 for an indirect 6% stake in EXT. Which would equate to paying an EXT SP of ~A$7.06.
Now it is important to remember that this is not the same as buying a direct stake in EXT. There is a far greater risk buying a stake in KAH as apposed to a direct stake in EXT. Also Itochu's power to influence decisions of EXT is far less, as they do not have a seat on EXT's board, only one vote on KAH's board.
Historically KAH has trade at 20% discount to the NAV of its 40% stake in EXT.
Therefore if apply the historical discount of 20% to the A$7.08 paid we get a figure of ~A8.85. Which fairly close to the A$9.04 current valuation that WHIreland gave in their March 24 Brokers Note on EXT.
So I would expect a sale price around A$8.85 for Polo's EXT stake.
Anything lower would be very dissapointing as an EXT SH, any higher would be a bonus.
However even at A$8.85, it still seem very cheap, and a great deal for however buys the stake!
Regards
Steve
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Last
1.0¢ |
Change
0.001(11.1%) |
Mkt cap ! $20.72M |
Open | High | Low | Value | Volume |
0.9¢ | 1.0¢ | 0.9¢ | $26.27K | 2.737M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 650000 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 5446467 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 650000 | 0.009 |
11 | 4342782 | 0.008 |
3 | 980000 | 0.007 |
5 | 1861000 | 0.006 |
2 | 1280000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 5446467 | 6 |
0.011 | 738651 | 5 |
0.012 | 560000 | 2 |
0.013 | 356300 | 3 |
0.014 | 1075000 | 2 |
Last trade - 16.10pm 22/07/2025 (20 minute delay) ? |
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