Thanks for the link
I've only given the report a quick once thru
At the risk of making a goose of myself......
Page 1 "Merger with Cascade to trigger upside"
they refer to the independent valuation done for merger and state..."A$0.18/ sh post merger, an uplift that is in line with the doubling Torian's exposure to Zuleika at a 66% discount"
To the best of my knowledge Torian currently can only lay claim to a 12.5% interest in the Zuleika assets (last quarterly)
That would suggest to me that post merger Torian will see an 8 fold increase in exposure to the Zuleika assets at 100% ownership?
Where am I going wrong here ????
TNR Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
