RE: RE: Vox Pitch30 Apr 2018 15:16
Based on the low deal cost and 95% of the 1.37Moz acquired, this equates to a very low acquisition cost of $3.45/oz, or $4.8/oz if you include the $1.8m creditors payment. On any basis we view this as an exceptionally cheap acquisition, coming in well below typical gold space M&A deals ($50-$200/oz) and even below typical African gold discovery costs ($10-$25/oz). Our valuation remains at 1.03p / share, pending quarterly production news.