No matter what the offer is from NMDC, whether a high ball or a more realistic market based value, I think Sharon will get some sort of good deal out of this for everyone.
Look what she did with HAW, when she purchased Mount Bevan
Lets say Mt Bevan is worth $50m as a minimum.
Sharon paid $1.5m cash for a 18% share in HAW, plus another $3.5m to earn 60% of Mt Bevan.
So for a total outlay of $5m she has approx 68% of Mt Bevan.
68% of $50m = $34m
$5m into $34m, I will take those odds any day.
I think you will find that if a lower offer were to come in, Sharon has got plan B, C and D for getting shareholders a deal.
After all, she is the biggest of all shareholders.
And imagine being connected to an aggressively growing Indian company with money to burn on buying projects like Minemakers.
LCY Price at posting:
21.0¢ Sentiment: None Disclosure: Held
