To be a bit more precise, EMR owns 52%. It's US$1.17b. So when Kestrel comes to market, I'm thinking about EMR's 52% of their 80% of Kestrel. In other words, 41.6%.
To be fair to the reporters, maybe they were saying "$US3bn-plus" for 100%? EMR's interest in Kestrel is expected to go for US$1.2b-plus. So the bankers expect EMR to sell for their purchase price, following depletion and higher royalties.
I posted above, "But I'd be surprised if they could find a buyer at US$300m." So I don't think 100% is even worth a billion.
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