If the offer is $60 million, then LCY will be worth $120 million post share issue, unless current sh are happy to see the sp fall by 50. I would say LCY will try and buy the remaining 40% from HAW with an offer of around $20 - 30 million. I would value Mt Bevan as a whole, worth much more long term though so LCY directors would want something done early.
word on the street - 40 to 60 million offer, page-50
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