"It should also be noted that BDO’s value assessment of Explaurum did not take into account potential value enhancements from: • the Mace Discovery; or
• other operating and capital cost optimisations currently being undertaken as part of the Bankable Feasibility Study on the Tampia Project.
These dynamics have the potential to deliver significant further upside to the BDO value assessment of Explaurum. Further information regarding the Mace Discovery is expected to be provided later this week.
On top of the value inadequacy highlighted by the Independent Expert Report, there are several other key reasons why the Explaurum Board has strong reservations in relation to the current Ramelius Offer"
EXU Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
