Found a direct reference to the MAC royalty, there is a well written paper by Sandon Capital at http://www.sandoncapital.com.au/site/images/pdfs/Whitepaper_Iluka.pdf
An extract from the paper which recommends a demerger:
"Sandon Capital believes the royalty is significantly undervalued whilst it is housed within a mining company and would be more appropriately valued in a separately listed, pure play royalty company. Based on offshore comparables, the royalty today could be worth A$840m-940m. Should BHP Billiton proceed with the development of the South Flank deposit, we believe the royalty could be worth between A$1.7-1.9bn"
Found a direct reference to the MAC royalty, there is a well...
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$5.69 |
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0.210(3.83%) |
Mkt cap ! $2.444B | |||
| Open | High | Low | Value | Volume |
| $5.55 | $5.75 | $5.50 | $24.12M | 4.268M |
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| Price($) | Vol. | No. |
|---|---|---|
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| ILU (ASX) Chart |