Hmmm... re-read the announcement. It outlines:
a) an offer to acquire a minimum of 51% of Prospect; or
b) an offer to purchase 100% of the Arcadia lithium project directly. Would happening after indigenisation policy is formal appealled.
Current NPV of Arcadia is $440mill AUD...... 70% of that would be $308 mill.
I presume that Mr Duncan (Harry) Greaves will be working in his best interest, as he owns the other 30% of Arcadia.... as such, I suspect option (b) is looking more certain.
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