Hi Gazza, no problem. I can only assume he is busy writing up his next company report.
Not sure if many follow DCN, but I bring it up, because they recently undertook a huge capital raising ($98m) at a discounted price of 70% before it stopped trading earlier in the year. It continues to produce (not overly profitably right now, but.. poor hedging was a major reason) and, without going into detail, was basically sitting at an MC of around $220m, with next cash of $8m. Producing around 120k p.a at a similar AISC than Darlot.
The cap raising was at $0.30, and the stock, even though massively diluted, did not get down to that to that price (lowest was $0.34), and today finally moved higher ($0.43) in a big way. As I read it, those hoping to buy in around $0.30, simply did not get the chance, and are now playing catchup.
As I posted above, I see a similar outcome for RED, although its hard to know exactly when it will move, I have a suspicion, it will be very close to when the new shares list (12th May), which perhaps sound counter intuitive, but... when a stock is undervalued, and a sector is rising, well... it just means the price has been stretched to the downside further than most, due to the cap raising.
All speculation on my part.
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Last
34.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.346B |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 31745 | 38.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
33.0¢ | 22728 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 41032 | 0.380 |
1 | 63 | 0.375 |
1 | 10661 | 0.370 |
3 | 120345 | 0.355 |
8 | 375000 | 0.350 |
Price($) | Vol. | No. |
---|---|---|
0.330 | 27619 | 1 |
0.335 | 10745 | 2 |
0.340 | 506 | 2 |
0.345 | 19058 | 3 |
0.350 | 675040 | 8 |
Last trade - 09.44am 09/08/2024 (20 minute delay) ? |
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