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LION SELECTION GROUP LIMITED. — Net Asset Value 2018
Nov 6, 2018
65271_rns_2018-11-06_042f4ab3-e10d-43ad-9e91-6bac60feae84.pdf
Net Asset Value
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ASX RELEASE: LSX
Merdeka transaction gives Lion’s NTA 48% uplift
Net Tangible Asset Backing
Lion Selection Group Limited (Lion) advises that the unaudited net tangible asset backing of Lion as at 31 October 2018 is $0.43 per share (after tax).
| Commodity September 2018 A$M Pani Joint Venture (33.3% Interest) Gold 16.9 Fair value for Pani based on Merdeka’s acquisition of 66.7% interest in the Pani JV from Lion’s existing JV partner in November 2018. (See next page for more details.) Portfolio Nusantara Resources Gold 7.1 Roxgold Gold 5.3 Egan Street Resources Gold 4.4 Erdene Resources Gold 2.6 Toro Gold Gold 1.6 Other 3.7 Portfolio holdings measured at fair value Includes investments held directly by Lion and the value to Lion of investments held by African Lion. Net Cash 1.3 |
October 2018 A$M ¢ps 39.3 26.2 7.9 5.3 5.3 3.5 4.1 2.7 2.1 1.4 1.6 1.0 3.2 2.2 0.9 0.6 |
|---|---|
| Net Tangible Assets A$43.5m |
A$64.4m 43¢ps |
Capital Structure
| Structure | ||
|---|---|---|
| Shares on Issue: | 150,134,879 | |
| Share Price: | 28¢ps | 31 October 2018 |
| Options on Issue: | 15,720,958 | $0.50 expiry 12 April 2020 |
Lion Selection Group Limited ABN 26 077 729 572 Level 2, 175 Flinders Lane, Melbourne Vic 3000 T: +61 3 9614 8008 NSX RELEASE – 7 November 2018 www.lsg.com.au
Further enquiries: Craig Smyth E: [email protected] Page 1 of 2
Merdeka Transaction
On 5 November 2018 it was announced that PT Merdeka Copper Gold tbk (Merdeka) will become Lion’s joint venture partner in the Pani Joint Venture (Pani JV) after agreeing to pay US$55m cash to buy a 66.7% joint venture interest from Lion’s existing joint venture partner. The purchase price paid by Merdeka imputes a look through value of A$39m for Lion’s 33.3% interest. Lion has adopted this valuation for its net tangible asset (NTA) disclosure.
Merdeka is a leading Indonesian gold mining company which developed and now operates the Tujuh Bukit oxide heap leach project, East Java. The technical, financial and Indonesian operations expertise possessed by Merdeka are welcomed by Lion as essential skills for developing the Pani Gold Project.
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NSX RELEASE – 7 November 2018