Acedog A bid tomorrow would likely start at say mcap+40% or...

Acedog
A bid tomorrow would likely start at say mcap+40% or around $1.80 ps, or u could do npv @ 40% (based on pre fid) which gives a similar type of result, though not discounted for time value of money.

If you want to extrapolate pog to say 2025 at say US$2500 /4000 AUD and top down analysis would give u net A$2500/oz on $1500 asic at 500ktpa= $1.25bn - 30% tax/royalties = $875m npat / say 2.2bn shares diluted (to cover equity side of build) = 40cps net earnings per share on a conservative p/e of say 8 X earnings or $3.20 ps on production. Again, knock that back by 40% for a 2024 bid = $1.90

So I would estimate $1.80/2.00 for a bid this year. More if it became a bidding war. Just musings to give u an idea...