why the deak is worth 12 cents per share

I dont know why people keep saying the deal is only 8c per share.

Here is what the deal is worh when looked at by analysts using the enterprise value method of valung companies.

Nmdc paid $19m for 50% of the equity. Therefore total market cap is $38m, or the value of the asset itself.

Add in the $19m in cash sitting in the company.

Total value is $57m.

So lcy now has approx 238m shares on issue, and by the time nmdc comes on board that will be 476m shares.

Total enterprise value / shares = 12 cents per share.

Hence why the stock is trading at that price and being accumulated and why it hasnt fallen below that price.

Brokers know the potentisl upside having nmdc on the books, and are just soaking up all the stock from the short term sellers.

A valuation of 12 c is 20% above the price lcy was when it started negotiations with nmdc, and in a market which has gone backwards.

Sure we would all have liked more cash, but lcy doesnt technically own mt bevan so you cant value it.

If the mount bevan project is worth $120m, why isn their jv partner hawthorn resources, trading at 7c? Because the market knows there is a lot more fo be done to realise the value in ground.

Nmdc at least has the financiala muscle to keep lcy in the game and get the ore out of the ground, and to protect us from a gfc2.

Keep up the good work sharon, clearly as the largest shareholder you know what is ahead for us by joining with nmdc.

I am voting yes to a bigger future and company.