ALB traded flat after an initial dip which tells me (so far at least) US punters don't think ALB overpaid. Otherwise their valuation would have dropped as it wasn't a good acquisition.
We absolutely have to re-rate though. Think about it this way. CE just inherited $1.6m in cash, he keeps $500m to pay for infra at Wodgina and he offers KB $1.1bn for 42.5% of PLS to bring them up to 50%. That values PLS at nearly twice what it is trading at today and CE would be replacing what he just lost, with possibly an even better resource and keeping $500m in cash.
MIN was valued at $2.3bn including cash and IO assets and ALB has just valued Wodgina at $3.2bn
Serious disconnect in markets and if we don't re-rate, along with AJM and TAW then consolidation is absolutely not over in WA hard-rock. The only real defense against being swallowed at this point though is a rising share price.
Maybe this will be enough to get insto's and analysts interested.
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Last
$3.05 |
Change
-0.100(3.17%) |
Mkt cap ! $9.185B |
Open | High | Low | Value | Volume |
$3.13 | $3.15 | $3.02 | $74.55M | 24.33M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 89482 | $3.04 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.05 | 37502 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 89482 | 3.040 |
6 | 31294 | 3.030 |
20 | 208232 | 3.020 |
16 | 406489 | 3.010 |
68 | 314428 | 3.000 |
Price($) | Vol. | No. |
---|---|---|
3.050 | 21000 | 2 |
3.060 | 10330 | 1 |
3.070 | 79133 | 7 |
3.080 | 148351 | 10 |
3.090 | 60000 | 4 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
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