On the expensive side but not as bad as SBM + Atlantic. See...

On the expensive side but not as bad as SBM + Atlantic. See comparison on the other recent acquisitions below....prices in AUD
- PNR + CNG : $39/oz at 2.2Moz
- SAR + BGH : $57.88/oz at 0.660Moz
- NST + POGO : $86/oz at 4.1Moz
- AMI + PEAK : $116/oz at 1.2Moz
- NST + EAR : $140/oz at 1.8Moz
- SAR + Super Pit : $297.29/oz at 3.7Moz
- SBM + Atlantic : $455/oz at 4.3oz

If they can deliver operationally on this then, I don't have an issue. Maybe just nitpicking on the deal here but I would have preferred more debt due to the current IR. 1/3 debt the rest (2/3) is on new shares placement.


Structurally not bad at $3.28/share. Would have been real nice at $4.50, just a quarter ago...