what is kal worth as a takeover target

As a guideline, perhaps, we can consider that this morning FML has launched a buyout of its Coolgardie Gold JV.

Focus is paying $64m for the 50% it doesn't own and receiving 100% of the 1.8Moz and the 1.2Mtpa Three Mile Gold Plant.

So what would KAL shareholders accept for its 1.5Moz plus, highly prospective Nickel tenements???


ASX / MEDIA RELEASE 6 MARCH 2008
FOCUS UNVEILS $64M STRATEGY “TWO GOALS – ONE FOCUS” TO BUYOUT COOLGARDIE GOLD JV, AND ACCELERATE PRODUCTION IN BOTH GOLD AND NICKEL
KEY POINTS
• Focus moves to 100% ownership of Coolgardie Gold Project by acquiring Committee Bay’s 50% interest for $22.0M in cash, and 140 million fully paid shares in FML at 5.5 cents.
• A$36.6M debt and equity funding package announced, including a Share Purchase Plan.
• Transaction to deliver 100% ownership of the 1.8Moz Coolgardie Gold Project (WA), including the 1.2Mtpa Three Mile Hill gold plant – significantly increasing FML’s exposure to the gold price.