And, IMHO - a more conservative valuation scenario....
Based on current NPV of ~USD$404m = ~AUD$525m
50% = AUD$262.5m / 165m = AUD$1.59 per share
But, like Strauss - I would expect somewhere between AUD$1 and AUD$1.30 per share
The key thing will be liquidity...given so many shares are held by those "inside the tent"!