Would like to get your thoughts on what people think would be a realistic price they would be happy with.
Lets look at the facts
CRM placement on a 3MTPA - 1.35
Shaws - $1.50
Sheik paid $1.75
David Craig - oppie conversion price $1.75
I put the NPV of the high grade ore 20 years @ 5MTPA around 650M - Discount this by 50% 325M by 160M shares - $2.00
If the directors try and sell me on $1.50 or less they are kidding themselves, I would rather take my chances with CRM
Realistically I would think fair value $2 for a takeover.
This is based on Railway alone, as westcott pointed out we dont know how all the other tenements fit into the equation but if an offer is north of $2. I am probably sold.
Could be pie in the sky stuff but who knows?
Anyones elses thoughts
Cheers
UMC Price at posting:
91.0¢ Sentiment: None Disclosure: Held
