Thanks nicto, i think you've got the ARDO exercise price wrong. On my planet it should be 20 cents less 22.01%.
The irony is that if ARD is seen as a pure silver play, it may be valued more highly than it is now, even though it will have lost the bullant assets. For example, if it is valued with an IGV even remotely similar to SVL (which a few weeks ago was calculated around $4/oz by one poster), then buckle up!
Just a thought, I wonder if ARD owned the 44M USN shares, instead of passing directly to shareholders, if it would still gain traction as a silver play, because the USN shares could be sold later on to fund capex for Kempfield.
PS. On my planet I have changed my sentiment from 'hold' back to 'buy'.
ARD Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
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