Price of the raising is actually pretty decent for the position they are in. The price action for the last few weeks has been pointing to a capital raising. The shorters will buy back a juicy portion of the stock available at $1.10 and make a nice profit.
The dumbest thing about all of this has been the empire building that RSG embarked upon in the last couple of years buying stakes in the juniors. The stakes in OKU and Orca Gold are well underwater, not too sure about the others. Buying a portfolio of juniors when you haven't got your own house in order, and then doing a capital raising near the lows, is a perfect example of value destruction.
Ann: Trading Halt, page-19
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Last
67.0¢ |
Change
-0.075(10.1%) |
Mkt cap ! $1.426B | |||
| Open | High | Low | Value | Volume |
| 71.0¢ | 71.0¢ | 66.5¢ | $13.63M | 20.05M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 485586 | 66.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 282407 | 7 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| RSG (ASX) Chart |