My only reason for saying they gave away a shit ton is that they had JM and 100% of the project - and opted to JV it. So for a $6m buy in, ADN added $300m+ of current market cap (> $875m at one stage) + got money to move forward. I agree its not ADN v MEP but there is a valuation gap so the market has voted on this some time ago. Like everyone, I hope this doesn't turn to a shit-fight. I also hope MEP don't acquire the other ADN projects outside of HK. The smart move IMHO would be to merge ADN/MEP and then spin off ALL of the other stuff into a NewCo exploration play, properly funded (a bit like the MNR Minotaur did when the sold Prominent Hill to Oxiana (OzMin). No CGT implications then.
My only reason for saying they gave away a shit ton is that they...
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Last
1.9¢ |
Change
-0.001(5.00%) |
Mkt cap ! $59.09M | |||
| Open | High | Low | Value | Volume |
| 2.1¢ | 2.1¢ | 1.9¢ | $1.719K | 85.93K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 2222567 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 440726 | 1 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| ADN (ASX) Chart |