Gross oversimplification I suppose. I just can't see that Ramelius needs $160m in the kitty plus a back up of another $100m for it to acquire Gascoyne at anything from $200m down. I suspect a fair chunk of GCY holders would rather RMS scrip than cash. I cannot remember anyone suggesting that the sale price for Gascoyne would be much above $200m.
And I reckon that Ramelius would immediately turn on the cash spiggot at Dalgaranga by diverting some Mt Magnet ore down the road to the Dalgaranga mill until the near-mill ore and Yalgoo ore came on stream. They would be as good as self funding from Day One.
Ramelius having organised access to $260m cash suggests to me that they have eyes for something bigger.
(Yeah, I know, some heroic assumptions there, but I'm feeling lucky).
Ann: Appointment of Rowan Johnston as Non-Executive Chair, page-5
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Mkt cap ! $1.170B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 17 | 56142 | $1.04 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.04 | 74733 | 9 |
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