RE: Friendly Jindal Talks End So the freindly Jindal discussions have ended. Apparently, their offer was unacceptable, being to low. (SP now 75p?)
"The company said in a statement that it has "withdrawn discussions of acquisition" for Afferro Mining and the mutually exclusivity period has ended without any conclusive outcome.
The deal was estimated to be about $ 500-600 million. "We have already shared our intent with Afferro Mining and asked them to inform their stock exchanges accordingly about the withdrawal of our intent, as they had earlier informed them about being in talks with JSPL," it said."
Hummm, $500M / 1.57 is 318p (trading at 75p)
AFF value today in the market at 75p?,...
" AFF is valued on an EV/Resource basis (based on its cash) of 5c.
Hanlong's offer for Sundance is approx 50c.
Note: Sundance is further away from the proposed port, so needs more transport and when the takeover is complete (we have had good news on that today, which has been missed so far by the market!), they will build it passed Nkout anyway!
So based on the above and the average weighted sector price of 58c, the SP should be 10 times the price?"
Should get interesting as the Chinese are still in through "IMIC", while Jindal can go the hostile route or with competing Bids to whatever IMIC first offers. (Originally valued AFF at 114 -140p)
Cheers, Mark
AFF is valued on an EV/Resource basis (based on its cash) of 5c.
Hanlong's offer for Sundance is approx 50c.
Note: Sundance is further away from the proposed port, so needs more transport and when the takeover is complete (we have had good news on that today, which has been missed so far by the market!), they will build it passed Nkout anyway!
So based on the above and the average weighted sector price of 58c, the SP should be 10 times the price?
AFF is valued on an EV/Resource basis (based on its cash) of 5c.
Hanlong's offer for Sundance is approx 50c.
Note: Sundance is further away from the proposed port, so needs more transport and when the takeover is complete (we have had good news on that today, which has been missed so far by the market!), they will build it passed Nkout anyway!
So based on the above and the average weighted sector price of 58c, the SP should be 10 times the price?