Interesting post on ADVFN31 Jan 2019 22:52
I've been a long time lurker, and not sure if any one has posted a direct comparison to Mariana resources recently, but I had a free half hour so thought I would try and work out a potential sp value using Marianas final sp and the value Hod Maden sold for. Please pick it apart and point out any errors you see as I've got to have made a mistake!
Marianna:
135,000,000 Share in issue (after a consolidation of 10 to 1)
2,600,000 oz au at HM/ 3,450,000 gold equivalent oz(GEoz) (1:1.327)
167,000,000 Pounds paid for 30% of HM
Which gives us £48.40 paid per GEoz discovered and £1.23 per share. Marianas final sp was £1.09 which is 88.6% of the £1.23 mentioned previously.
Ariana:
105,517,794 Share in issue (after a consolidation of 10 to 1)
Estimation for a 3m oz au find at Salinbas;
3,000,000 oz au at SB/ 3,981,000 GEoz using 1:1.327
Using the £48.40 paid for HM we get:
£192,680,400 for 30%.
£642,268,000 for 100%.
£6.08 per share, or a final sp of £5.38 using the same difference of 88.6% as mentioned above.
Estimation for a 4m oz au find at Salinbas;
4,000,000 oz au at SB/ 5,308,000 GEoz using 1:1.327
Using the £48.40 paid for HM we get:
£256,907,200 for 30%.
£856,357,333 for 100%.
£8.11 per share, or a final sp of £7.18 using the same difference of 88.6% as mentioned above.
Divide above share prices by ten for a comparison to current share price (i.e. without the consolidation).