Dividend divided amongst shareholders of $100m leaving them with extra $120m for acquisitions plus exploration post conclusion of transaction. The primary asset has gone. Cash backing is $120m plus post dividend. The proposal is subject to various conditions hence a risk discount of approx 15- 20%. It'll be interesting to note what they have planned apart from ongoing exploration. Might be wrong.
EXS Price at posting:
70.5¢ Sentiment: None Disclosure: Not Held