Paddy/SK. I think it would be extremely unlikely that GH would agree to a sell of the 30% before the 5% has been valued. The deal states that NC can buy 5% at a fair mkt price. This will be determined by experts and the experts wont be able to opine until the drilling has determined the probable size of the deposit. Of course its possible that NC may offer GH a fabulous price for the 30%, but as NC will have all the information and GH will only have what NC pass over, NC will have all the cards. So GH ought to smell something fishy. So the 5% will determine a fair value that has everything to do with the asset value (and nothing to do with the sp). Maybe then and only then, GH can decide whether he sells the rest or keeps it. Nice problem to have though.
SK, I think you need to use the fully diluted shares in issue as loads of options, warrants and share based payments if price is that high. I use 4.145byn. As to what its worth in the ground, its far too early to even guess, but RTCs guess is at the bottom end of any range imagineable. It could go as high as $300, although unlikely.
Is the word ‘mammoth’ used by numis or any other respected commentator? Sometimes words and phrases mean something specific eg ‘tier 1’. Maybe mammoth means something too. And not just something woolly!
40% cgt oh no 40% div tax oh no anti semite as pm oh no terrorist sympathiser as pm oh no corp tax rise oh no £58 byn for wealthy 60s women oh no Anti Nato as pm oh no Anti american as pm oh no Isas and pensions next oh no
Why stop at 40 Mickey? Scally same as Hav. Goliath, well its in the name isnt it? Plus FT and the huge Warrentina (thats also in the name - tiny). I am sure you can come up with a much bigger number as cheerleader in chief.