GREY:NMKEF - Post by User
Comment by
mick1888on Jul 01, 2020 5:00am
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Post# 31211426
RE:RE:What is the total cost to undo the capital structure?
RE:RE:What is the total cost to undo the capital structure? TtT, this is a competition with 8 bidders. While no doubt there will be some vultures in there hoping to achieve the steal of the century, there will also be some very keen industry players ready to pay for a potentially great project. And Pallinghurst / Traxys may be one of the latter? Remember this JV has 2b USD burning a hole in their pocket, and at present nowhere else to put it besides NMX. With the inclusion of IQ's 2-300m, it adds up to not far off what they originally intended to invest (PL-600m + IQ - 300m = 900m). This leaves a shortfall of around 200m which is approx what scissors alludes to. By my reckoning this would equate to around 0.20 new offer, but it's very doubtful they would include this in their first proposal (need some negotiation room). The best I think they'll come up with is 0.17. For us, a lot will also depend on what IQ does (equity / debt). My tuppence worth... ;-) GLTA longs
TicTacTo wrote: Doubtful, last year deal is dead, all new offer