40% of Abbra for $90M values the project at $225MG1A 60%...

40% of Abbra for $90M values the project at $225M
G1A 60% therefore worth $135M
Add back $90M cash for sale of 40% and G1A is worth $225M
Fully diluted G1A has 371M shares, therefore on sale and cash basis G1A worth 60c per share
However, project was sold on a discount to NPV as one would expect. DFS NPV of $450M at 10% discount rate vs $225M sale valuation.
Coincidence not... sold at exactly 50% of NPV, coincidence not, so that offtake partner and investor still makes a profit on substantial investment.
G1A holders still have 60% of $225M NPV upside, or 36c additional valuation (60c + 36c = 96c valuation de-risked for any share dilution)
Conservatively, 36c/share NPV pretax = $24c post tax so G1A valuation 84c per share on this fantastic de-risking deal 
Model for other junior miners to follow IMO. Cut out the brokers and banksters, just get non-dilution funding from natural partners, not cheap, discounted, greasy sophisticate placements to the same frackers who will sell down cum raise and sail off with the lion's share of profits post cap raise.

Hat tip .