I tend to agree with part's of Clark88's and Guerilla's posts above re market cap of HAV and the potential to Wanboa to buy online.
Whilst I agree that the market cap of HAV is not directly relevant to the price they should get for Kalkaroo, is does have relevance.
There are approx 200M shares (yes a few more with options, but assume 200M for illustration purposes).
If Wanbao wanted to buy on market, they would get a significant percentage for $1 per share, a large percentage for $2 per share and at a guess, the whole company for $4 per share but possibly less.
Therefore, it you can get the whole company for less than $800M, how much would you pay for one asset? Whilst Kalkaroo is a significant asset, it is not the only asset.
Given the above, if I was Wanbao, I would be willing to pay more than $200M for Kalkaroo, regardless of what the NPV in the PFS says.
I think management needs to be realistic and not greedy and get a deal done.
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