No one has a clue what the DVM shares will come back on at. They have been reconstructed on the basis of 1(new) for 7(old) and last traded at 3cps (hence the multiple to 21cps) but that level was showing a lot of pressure downwards and one has to be cynical about 3cps being maintained just prior to suspension so as to justify a requotation given that the ASX only allows new issues at a minimum of 20cps - hence the meagre prospectus offering. Present cash backing is estimated at no-where near this level being approximately 7cps and then there is whatever you put on the drilling prospects. A more realistic guide may be what ANZ got/gets for the significant DVM stake they received from Opes Prime, and even then there may be strategic buying by Directors or their friends to ensure some sort of level on requotation. Do not place any reliance whatsoever on these thoughts as everyone needs to do their own research and form their own view.
DVM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
