45 cents
Either
1) they sell it to Q for $240M. Given 400M shares on offer, 240/400= 60, I've allowed for some margin, ie management spends some money on Chile
2) they don't sell it, but manage to sell U on an ongoing basis, generating roughly $15 M pa in profit. Multiply this by 15 for a valuation of $225m. Divided by shares on offer minus some margin is roughly 45 cents again.
Slow and steady wins the race, page-2
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