Post by
templetooth2 on Apr 28, 2021 2:24pm
Fortuna assets
The Canaccord analyst's comments on the deal are most revealing. Or rather, his numbers.
He calculates a proforma net asset value for Fortuna of US$1,317,000,000. 0r $4.54 per share.
His model gives a gross asset value of $1,676,000,000 and then you deduct the usual things like tax, SG&A, etc.
Interesting: Yaramoko and Seguela are valued at US$467mm and US$514mm respectively, for a total of $981mm. That's 58% of the total gross $1,676mm.
So, in exchange for contributing 58% of the assets of the new company, ROXG shareholders collect about 36% of the equity. Do our managers deserve a raise? Or something else?
Comment by
Consvestor on Apr 28, 2021 2:30pm
I will certainly be voting against the deal, but it's the mutual funds that will push this through.