what is it worth?, page-6

The board will not muck around any longer they know deal is dead with AVO holding close to 50%, they WILL accept AVO terms so with their 34.352 DIO shares they get $23.29m cash plus 11.164 AVO shares (@$1.70)this is $18.9m so $42m in total they issued 68.7m new RMS shares so value of that holding is 60c per new RMS share so given the stock has struggled to get through 60c there has been no wealth destruction they have made you money and they will accept!
The question is how to distribute the $40m, either via buyback (buying the 68m at 60c) or capital return. The cash flow from the milling that starts in 2 days will be enoughto easily pay hefty dividends and the franking credits ($5m profit also from last half) need to be used so this could be a massive yield gold play if one exists!! Also tonnnage is increasing to 240mt so 2 and half years mine life though grade will drop to close to 20g/t but still excellent, market missing something here!