It's possible rival bids will emerge. RMS only announced this morning. And quite possibly they did so to prompt other potential suitors. 15 cents is the price to beat. And if it's in cash, all the better.
This also represents a new phase in the gold junior market, an uptick in M&A.
Doing the sums, this represents $600/oz resources at high grade. An interesting metric to use when CHN start reporting resources and reserves.
SPX is peripheral to CHN's success, but a nice slice of wedge, the profits of which will keep the drills spinning for a year. No dilution around here....
SPX, page-7
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Last
$1.29 |
Change
0.045(3.61%) |
Mkt cap ! $501.7M | |||
| Open | High | Low | Value | Volume |
| $1.26 | $1.33 | $1.26 | $4.613M | 3.567M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15000 | $1.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 7818 | 3 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| CHN (ASX) Chart |