$125m is the post tax valuation for Cattlin/James Bay per Strachan.
$30m for $125m project share looks a good deal for GMM. 50% Cattlin NPV $170m pre tax is $120m post tax plus $5m JB undeveloped. More down the track?(SDV buy in?)
GMM Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held