GXY 11.6% $1.64 galaxy resources limited

Anyway you cut it, a TO price has to begin with a $4. At A$4,...

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    Anyway you cut it, a TO price has to begin with a $4.
    At A$4, GXY is valued at A$1,630m.
    Breaking that up into key component assets, it would look something like this:

    SDV A$1,200m (US$850m)
    cash A$380m
    Mt Cattlin A$150m
    James Bay A$150m
    Discount sought by bidder (A$250m) * this is the value capture justifying the TO price

    Total price A$1.63B

    On top of the value capture, the successful bidder has A$380m in cash and no debt, so the TO price is just A$1.25B.

    It is still a bargain at that price.
    Last edited by yanlin: Tuesday, 13:28
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