$475 million. Singapore dollars. But it's not really that much...

$475 million. Singapore dollars. But it's not really that much is it... $450m of the $475m will come from shares in Singapore listed Matex, and existing Blackgold shareholders will only get 69% of those shares with the rest going to Lionheart Holding Group and Portman Capital Development (whoever they are). And the $450m assumes a Matex share price of S$0.187 but the market price of those shares is S$0.080, so the actual transaction value as it stands today is S$25m+ (0.08/0.187) x S$450m = S$218m
Bit of a difference there. And like I said, existing shareholders will only get 69% of those shares "valued" at $450m.
Still, better to be listed in Singapore and as far as I can tell from the announcement and the Matex share price, the company is still undervalued on the ASX by ~35%