RE:RE:cost of buying MXI for IMGHere is my stab at MXI valuation:
Total Diakha= 2 million oz (easily achievable after todays NR) (possibility more at depth and boundary extension as ww mentioned)
Total Zone 1A and B= 1 million oz
Price paid per oz= $100
Percentage of MXI owned by IMG after debt settlement= 20%
Ounces attributable to MXI net IMG's interest= (1,000,000*.8)+ (*500,000*.8)= 1.2 million ounces
Total amount paid by IMG= $120,000,000
Shares O/S Fully Diluted= 176,200,000
Price Per Share= (120,000,000/176,200,000) = $0.68
Reprensenting a more than 300% upside from todays close price. I'd say we could approach a dollar, as Karita is drilled out. Even if reduce the price paid per oz we should at least get $0.50 per share if IMG put a bid in the next few weeks.
Investors need to keep in ming that Fekola got around $130/oz. Sure it was a deposit at a feasibility stage, but we have A LOT more exploration upside when you include Zone 1A and B and other target areas, and given the fact that we are geologically similar to Fekola a lot of the unknowns relating to our deposits have been reduced by the technical work done by B2/Papilon.