"..yet he allowed the sale to EVN to go thru at $3.73 effectively valuing the EKJV below the NST offer......................" Worzel1
On my calculations, TBR owns 36.5% of the EKJV. EVN just paid $45M for 20% of TBR. Therefore (assuming TBR's only asset is the EKJV) EVN effectively owns 7.5% of the EKJV which it paid $45M for which in turn values the total EKJV at circa +$600M and therefore RND & TBRs share at +$300M which is well above the $150M NST offered.
Given where the gold price is now and the circumstances around the sale of the shares I would think the value of the EKJV is well north of $600M. DYOR
TBR Price at posting:
$4.10 Sentiment: None Disclosure: Not Held
