That's subjective but where there are no synergies/savings, under NO circumstances above IGO's book value which was $800 million. Fair value at current gold price is $700-750 million. Make comparisons to other Tier 1 transactions in the same jurisdiction (Aust)....the most recent were the two Super Pit buys accounting for differentials in the gold price at time of transaction.
I wonder what GOR's underbid was......
Tropicana, page-130
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