Based on Surfmore post from over on MMR thread as per below, and keeping GBA's holding simplified at lets say 10% of Advent, then GBA is worth a minimum of $18.3m - which is 65c.
This is based on the low side estimate of the post IPO value of Advent ($183m).
And please bear in mind this is PRE IPO price.
Sell it at your peril...
Proposal by Advent (AEL)
-Book building price range $1.25-$1.75
-Market Cap pre-offering AUD 168-235m
-Net Cash position - AUD 17.9m (April 2010)
-Private placement of shares: 12m new shares
-Shares outstanding post-offering: up to 146 326 668
-Market Cap post-offering AUD 183-256m
-Ownership post-private placement(assuming 12m new shares)
- 8.4% new shareholders - current shareholders to retain 91.6%
-Directed towards institutional and professional investors internationally
-Use of proceeds: Funding of exploration and appraisal program
GBA Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
