With around 4 bn shares after this deal and estimated 1 bn...

With around 4 bn shares after this deal and estimated 1 bn value, the shares at 1st look like they should be 25c. However, they need to do a bankable feasibility study prior to rasing more than 2 bn in finance. That has taken FMG more than 3 years to do. Discount the 1 bn at 10% for 3 years and this project is worth around 700 mn or 17.5c per share. Then there is the technical risk (reserves, prices, management, people, capex blowouts are pretty normal nowdays eg FMG, opex). The numbers used in the study are probably +- 30%. take all this into account and we are probably back down to the low teens. Then we need to add the exploration potential. I can't see this putting them back over 20c.

All this my own opinion and not to be considered reliable or used for investment purposes. DYOR

Anyway, let the games begin