'A high level look could say the deal values Hav at circa $100M while the market is currently valuing us at $30M'
This interpretation contributed to HAV's SP hitting 24 cents on May 1 for the 1/2 hour or so it traded after the release of the complex GFG proposal. Once people took the time to read the document, the SP fell like a stone The devil is in the detail.
NOM Resolution extract: 'issue up to 447,733,124 fully paid ordinary shares to SIMEC to raise up to approximately $75 million' [~ $0.1675 ps]
This implies HAV's 218.2 million shares on issue are valued at ~ $37 million. To put this into context:
WHAT RECENT HAV RELEASES SAY TWO HAV ASSETS ARE WORTH (Post #: 40266111):
Iron ore assets: $120 million Kalkaroo pre-tax NPV7.5: $564 million Sub-total: $784 million
So GFG/SIMEC gets a 95% discount on HAV's own numbers.
From NOM p 9: "the Company was well placed to negotiate from a position of strength."
I wonder what the discount would be if HAV's people negotiated from a position of weakness...
(20min delay)