GREY:AFRIF - Post Discussion
Post by
LTGoldBull on Apr 23, 2013 9:12am
The Bid (unofficial)
Yes, correct 15 biz days (9 May). Still the unofficial Bid and Market prices the unknown(s) at 72.5p and if a serious Bidder (IMIC)
Once an official Bid, Market should at the very least be pricing option #1 at 100p, maybe middle ground at 120p.
I don't think AFF board will support an IMIC proposal as laid out with C$82M cash (C$2M/mo burnrate)
MCap's less cash (C$82M) at 1.56 exch,...at 72.5p (C$36.65M), the IMIC Deal of 100p (C$81.8M) and at 140p (C$147M)
Panmure Gordon 279p valuation less cash is C$375M and Alison Turner has admitted being conservative valuing Nkout Resource at 16.9cents/tonne.
I am sure, governments of Cameroon and Congo will support only those companies with strong financial backing to build out this infrastructure and clear plans for doing so. Cheers, Mark
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