a couple of things to factor into the equation. 1. Toliara is likely 100 years or more of mine life and indeed they may crank up the volume rather than produce as per the DFS. 2. If they JV Toliara then you must consider for eg $200 mill for 20% values the whole of Toliara at $1 bill and our share $800 mill and the overall company at $1 bill approx. Thats about 85c a share. 3. at 10c dividend and 85c a share value thats 11.7% dividend there as well. 4. Tim has a plan for growth and returning cash to shareholders. There will be other projects and opportunities carefully selected. T 5. The current trading of the shares is unusual. Often Base will hardly trade because its so tightly held. It seems like we have someone accumulating and holding it down to make sure its at a decent price. Buying at this volume would normally cause it to sky rocket. 6. the journey from 2c low to 35c high mentioned before includes a capital raising at 25.5c for the purchase of Toliara. so the shares on issue increased substantially during that time.
cheers contra
BSE Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
