One striking difference between the Avoca & Shaw research reports is the treatment of the importance of the Netietsu Link. Avoca takes it more seriously and this intuits:
- that Avoca will be prepared to pay a higher price for their JV interest.
- that financing will be available the Japanese at a better rate.
I rate that the more correct approach because:
- RXM went into the agreement with them after an extensive search for partners.
- The decision was made knowing that this would likely mean RXm would have to raise equity ( with match)a t 17-18c to give the deal tie to execute.
- The Avoca equity price is likely to give some credit for the proven and probably ore in stage 2.
- The Japanese yen is very weak and reflects the low interest rate. That being the case japan needs hard currency ($US) and getting that via a copper and gold income stream will be more important to them than others in fact it's really just a way to arbritage Cu & Au futures currency & prices to bolster the Japanese yen. China is doing the same thing to combat capital flight and bolster the Yuan but on a much larger scale.
In nutshell, I favour a 90c target price for RXM when all the relevant elements play out.
All IMVHO.
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Last
45.5¢ |
Change
0.005(1.11%) |
Mkt cap ! $356.3M |
Open | High | Low | Value | Volume |
45.0¢ | 45.5¢ | 45.0¢ | $445.0K | 985.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 4963225 | 45.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
45.5¢ | 1163494 | 26 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 4963225 | 0.450 |
11 | 8225745 | 0.445 |
14 | 839868 | 0.440 |
6 | 403970 | 0.435 |
7 | 172481 | 0.430 |
Price($) | Vol. | No. |
---|---|---|
0.455 | 1163494 | 26 |
0.460 | 1650097 | 23 |
0.465 | 1500372 | 11 |
0.470 | 1375063 | 18 |
0.475 | 52500 | 3 |
Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
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