RE:RE:RE:RE:Centamin is overpriced Hi tC,
I agree that this was doubtless driven by La Mancha - but given that they currently have no shareholding interest in Centamin (AFAIK), why would they want to dilute their ownership interest in EDV, if they didn't think that bringing CEY's assets into the fold would add value?
Here is the word from La Mancha:
https://uk.reuters.com/article/us-centamin-m-a-endeavour-mining-shareho/endeavour-minings-largest-investor-supports-its-takeover-of-centamin-idUKKBN1Y71RM
Besides bringing the London listing and dividend forward, this deal will bring economies of scale (e.g. only one board to pay for, not two) and new explo/development prospects.
When you consider the lack of tax on the Egyptian mine, the 50% ownership interest is worth considerably more than just the 50% equivalent EDV ozs. E.g Hounde pays 17.5-27.5% corporate tax and we have 90% ownership interest, so you could say that EDV has an effective ownership interest of 65-74%.
I'm keeping an open mind, until we see more detail on how EDV justifies the proposed price. Anyhoo, it's a very open question whether CEY shareholders will agree to a deal acceptable to us.
Cheers,
Mark