Any reasonable TO price would have to be between $0.046 - 0.055 per share at a minimum based on a 1 billion ton Fe resource (plus min 100% upside).
That values HAW (Mt Bevan assets only) at $80m - $100m. This is cheap anyway you look at it, but certainly well and truly affordable for NMDC.
That would give NMDC 70% of Mt Bevan (40% to buy out HAW and 50% of LCY's 60%).
Not bad for a $120m outlay ($18.9m to LCY and $100m to HAW).
show me the money!!, page-2
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