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BRL may not be the only suitor. The Chinese and Indians would...

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109

11/10/21

12:28

Post #: 56707943
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Originally posted by excitingflynn ↑

BRL has already committed around 15m AUD for 20% interest in NWP, which is more than half our current market cap.

They have an option to gain 50% interest in NWP if they spend an additional $107m CA/ $117M AUD which is more than 4x our market cap.

It would make more sense for BRL to buy us out as they would gain 100% of NWP for pennies on the dollar.

15m + 117M = 132m which equates to 50% interest in NWP, valuing NWP at 264m.

If BRL buys us out at double our market cap, which is 50m, they will essentially paying 50m for the remainder 80% interest in NWP.

Based on the JV deal, 50% = 132m, 100% = 264m , thus 80% = 211.

Thus, BRL can gain 100% of NWP by paying $50m, instead instead of the implied value of $211m.

Surely this is a no brainer for them. Why pay 117m for 50% when you can pay 50m for 100% and all the other interests that JAL has.

JAL, a soon to be ESG leader in the coal industry is currently valued at pennies on the dollar right now.

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BRL may not be the only suitor. The Chinese and Indians would view JAL as a juicy target @ circa $50M. The former especially so considering the deposit is in Canada and not Oz.

JAL Price at posting: 8.5¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 3.1¢		Change 0.000(0.00%)		Mkt cap ! $13.50M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	25000	3.1¢

Sellers (Offers)

Price($)	Vol.	No.
3.5¢	56400	1

View Market Depth

No.	Vol.	Price($)
1	25000	0.031
1	33333	0.030
1	34482	0.029
2	742792	0.027
1	50486	0.026

Price($)	Vol.	No.
0.035	56400	1
0.040	35500	1
0.060	70768	1
0.000	0	0
0.000	0	0

Last trade - 07.00am 03/05/2024 (20 minute delay)

JAL (ASX) Chart

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