I dont mind CXX as a punt given Tanzania should be coming back online once the ABX/ACA deal is finalised later this year.
Remembering there was an (abandoned) all cash takeover of 33c p/share ($55million MC) by the major SH right when Magufuli flexed his muscles.
The major SH/JV partner has maintained a circa 20% hold. There was a news release in AFR earlier this year they were about to launch another bid. Nothing came of that article but when there's smoke...
There are some very interesting names that appeared to have come on in the 12c raise in January last year (comparing annual report to annual report). One of the better top20s you will see.
Previous bid was 33c/$55million MC.
Deduct the new Tanzania 16% free carried interest and factor in dilution since bid and I get a get a revised bid of around 23.5c if all things being equal.
Hail Mary
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| Last trade - 11.45am 03/05/2024 (20 minute delay) ? |
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