Just went through the finer details of the announcement on 1 March 2019 re the takeover. Based on the pre-bid prices, here are the facts. Note, I own shares in both companies.
Alto Metals (AME)
Middle Island (MDI)
Market Cap before bid
$5.8M
$9.4M
Offer details
Scrip for scrip
5 MDI shares:1 AME share
n/a
Offer value
4.5c ($9.4M)
Premium to last & 5 day VWAP
61%
Cash position
$329k (from recent raise)
$1.9M (at Jan 31)
Board stability since early 2016 (last 3 years)
Dermot Ryan (resigned Feb18)
Anna Mao (resigned Oct16)
Bill Robertson (resigned Dec16)
Stephen Stone (Jun16-Jul18)
Jingbin Wang (appointed Oct16)
Terry Wheeler (appointed Dec16)
Terry Streeter (Mar18-Nov18)
Patrick Holywell (Feb18-Feb18)
Matthew Bowles (appointed Feb18)
Same board
Gold Resource
261koz
537koz
Gold Exploration Target
?
900koz -1.5Moz
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Last
1.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.494M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 175803 | 1.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.7¢ | 250000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 175803 | 0.016 |
3 | 2304000 | 0.015 |
9 | 1968356 | 0.014 |
2 | 1600000 | 0.013 |
3 | 433333 | 0.012 |
Price($) | Vol. | No. |
---|---|---|
0.017 | 250000 | 1 |
0.018 | 619546 | 2 |
0.019 | 788153 | 4 |
0.020 | 306105 | 3 |
0.021 | 41750 | 1 |
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