I could not agree more. Unless EXU can sell a positive story which includes guaranteed funding via a loan or a decent joint venture arrangement a rational shareholder will see a RMS merger as a good deal.
However, who knows how many irrational EXU shareholders are out there and how many shares they own?
I would be concerned as an EXU shareholder if they had a high grade 1m oz reserve today with no funding on the table. Selling the financing is crucial to EXU remaining independent. If they do so, they have a chance, if not they have no chance.
If EXU is the greatest thing since sliced bread, another party will take them out. I suspect that they do not have other suitors prepared to outbid RMS.
After the initial takeover fever dies down many will come to realise that the SP will naturally drift lower during the next few weeks.
Ann: Ramelius Takeover Offer for Explaurum Limited Presentation, page-113
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Last
$2.09 |
Change
-0.010(0.48%) |
Mkt cap ! $2.393B | |||
| Open | High | Low | Value | Volume |
| $2.10 | $2.12 | $2.08 | $5.607M | 2.673M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 39754 | $2.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.09 | 68999 | 3 |
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| Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
| RMS (ASX) Chart |