Effectively the valuation metrics that the brokers are using to value the takeover offer are only taking into consideration Valhalla and Skal - thus giving an EV/Resource of $US23.63lb (at the time the offer was made).
The SXR UO paid for UrAsia valued their resources at $US31.61lb.
The valuation of $US23lb does NOT take into consideration, the "100% mt Isa Deposits" - Andersons, Mirrioola, Watta, Bikini, Tjilpa, Warwi and the other additional 15 known mineralised deposits.
It also excludes: - Isa South (9 contigious tenement applications ). - Georgina Basin (greenfields Uranium) - Isa North (Base metals) - May Downs (Gold) - Constance Range (Iron Ore spin off) - Mt Kelly (Copper)
IT IS ALSO ASSUMING that SMM is only entitled to 50% of the Valhalla/Skal Resource.
The arguements that they are using is that it is a 25+% premium to ERA and PDN - and 20% premium over other Uranium explorers.
REMEMBER PALADIN ARE RIPOFF MERCHANTS they acquired their interest in VAlhalla for EV/Res $4lb.
TheGimp
SMM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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