Hopefully we don't end up being stupid, but it would be interesting for the market to be shown what the value the 51% ownership NST currently enjoy represents in their market cap........there's a big gap there to be negotiated within.
Even if you work off a low 110kozs per year and a very conservative cash margin of $700 per oz that is $77M per year cash profit to NST. There would also be ZERO extra costs for them, in fact they would make quite significant savings in admin charges related to managing the JV. A 2 year multiple is a little low.......Counter with a multiple of 10.
TBR Price at posting:
$5.13 Sentiment: Hold Disclosure: Held
