Pertinent market/industry news/articles, page-1782

First 1782 Last

Share
Profile

Follow
tomchena

909 Posts.

85

16/06/19

14:50

Post #: 39080965
Share
Originally posted by the squash: ↑

Just further,

All I've heard is that its likely to be a 1:4 or 1:5 distribution - i.e. 1 share in the new entity for every 4 or 5 you have in Ardea.

My guesswork goes like this:

based on the assets, its likely to new entity will have market cap in the $10m-$20m range, remembering this was originally the ground that ARL was going to be spun out of Heron for, and was deemed strong enough to IPO (with the nickel cobalt). So it won't be listed at chicken feed valuation
I'd expect they would want a decent drilling budget to do the assets justice over 18mths, lets say $5m at least, upto $10m max would be raised
Priced at 20c, with 50m-100m shares on issue, gives you the market cap in the $10m-$20m range
Say the distribution results in 20-25m shares in the new entity being granted to ARL shareholders.
That leaves anywhere from 25m-80m of new shares to be issued, so at 20c raises say $5m - $16m

All in all looking at the above, my best guess would be new entity with 10m market cap, $5m raised at 20c, 50m shares on issue, 1:4 distribution from ARL so effectively half of the shares in the new entity given to ARL shareholders.

And then maybe some loyalty options etc like they did with ARL to raise additional funds in say 12mths, so if drill results are good enough, we buy loyalty options to help raise another $5m+ to keep the good times rolling.

Does that look and feel about right?

Expand

Possible but you are suggesting the spin off to have half the MC of ARL. Timing would be the key .
ARL Price at posting: 39.0¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

BAS

Bass completes successful testing work at Kiwi-1, showing higher-than-expected condensate yields

EMD

Emyria jumps 10% on 'interim' success treating PTSD patients with MDMA

TAT

Tartana Minerals firms up producer status with recent 150tn shipment of copper sulphate to the NT

IMU

Imugene's azer-cel trial sees tumours temporarily disappear in 3 of 10 patients

RKT

RocketDNA wins $350K contract to supply mine sits with autonomous security 'PatrolBots'

There are more pages in this discussion • 3,848 more messages in this thread...

First 1782 Last

Add ARL (ASX) to my watchlist

(20min delay)
Last 45.0¢		Change 0.020(4.65%)		Mkt cap ! $89.85M

Open	High	Low	Value	Volume
46.0¢	46.5¢	45.0¢	$32.72K	71.52K

Buyers (Bids)

No.	Vol.	Price($)
2	7920	44.5¢

Sellers (Offers)

Price($)	Vol.	No.
46.0¢	6267	2

View Market Depth

No.	Vol.	Price($)
1	920	0.445
1	22727	0.440
1	1700	0.435
3	31138	0.430
2	1700	0.420

Price($)	Vol.	No.
0.460	6267	2
0.470	50000	1
0.475	3700	2
0.480	5000	1
0.490	15000	1

Last trade - 11.46am 02/09/2024 (20 minute delay)

ARL (ASX) Chart

Pertinent market/industry news/articles, page-1782

Bass completes successful testing work at Kiwi-1, showing higher-than-expected condensate yields

Emyria jumps 10% on 'interim' success treating PTSD patients with MDMA

Tartana Minerals firms up producer status with recent 150tn shipment of copper sulphate to the NT

Imugene's azer-cel trial sees tumours temporarily disappear in 3 of 10 patients

RocketDNA wins $350K contract to supply mine sits with autonomous security 'PatrolBots'

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Pertinent market/industry news/articles, page-1782

Top Stories

Bass completes successful testing work at Kiwi-1, showing higher-than-expected condensate yields

Emyria jumps 10% on 'interim' success treating PTSD patients with MDMA

Tartana Minerals firms up producer status with recent 150tn shipment of copper sulphate to the NT

Imugene's azer-cel trial sees tumours temporarily disappear in 3 of 10 patients

RocketDNA wins $350K contract to supply mine sits with autonomous security 'PatrolBots'

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News