Hi Skip
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 is paying 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.
However even at A$8.85, it still seem very cheap, and a great deal for Itochu!
Regards
Steve
- Forums
- ASX - By Stock
- japs to take 15% of kah
Hi SkipQuote"March 26 (Reuters) - Japanese trading firm Itochu...
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EXT (ASX) to my watchlist
|
|||||
Last
0.9¢ |
Change
0.001(12.5%) |
Mkt cap ! $13.27M |
Open | High | Low | Value | Volume |
0.9¢ | 0.9¢ | 0.9¢ | $71.78K | 7.981M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 850797 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 13427226 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 850797 | 0.009 |
8 | 3059329 | 0.008 |
12 | 4998460 | 0.007 |
4 | 1685609 | 0.006 |
1 | 500000 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 13427226 | 14 |
0.011 | 16881150 | 10 |
0.012 | 14538361 | 7 |
0.013 | 10099423 | 3 |
0.014 | 71428 | 1 |
Last trade - 15.10pm 26/07/2024 (20 minute delay) ? |
Featured News
EXT (ASX) Chart |