Ann: Takeover Offer for Kalgoorlie Mining Company, page-28

re: Ann: NGF: Takeover Offer for Kalgoorlie M...
PGX just up the road might be next. ?

Phoenix is trading at a meaningful discount to peers with an enterprise value per ounce of $6/oz, compared to the peer average of $21/oz. If we assume the company can achieve its 4Moz exploration target by year-end, the company is trading on an EV/oz of just $4/oz. In theory, this suggests that if a third party bids for Phoenix today with a 35% premium, it could potentially acquire around 4Moz for close to the typical industry discovery cost of around $10/oz. : )