Do you know what I would take,
a merger with Kaiser Reef - currently capped at like $60m I think they raised a bit so maybe its an $80m mcap atm but with a 24k oz pa asset doing 2500 to 3000 aisc thats $48m p.a. FCF you could probably do a merger valuing them at say $120m for 50% premium.
you get cashflow that is underwriteable and sure its dilution but they also have undervalued growth with their Victorian plant but we'd give them further organic growth with Hillgrove.
Like the small cap equivalent of Mandalay x Alkane merger
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Last
54.5¢ |
Change
-0.050(8.40%) |
Mkt cap ! $222.6M | |||
| Open | High | Low | Value | Volume |
| 59.0¢ | 59.5¢ | 53.0¢ | $2.128M | 3.760M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 79994 | 54.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 55.0¢ | 1000 | 1 |
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| Last trade - 16.10pm 23/06/2025 (20 minute delay) ? |
| LRV (ASX) Chart |