Yes, I wondered the same. We do have drilling results due from Oz Minerals Alliance at any time and MMA did just release drilling results yesterday and more to come this month.
RDM was trading at a significant discount to its shares in MMA and cash on hand which today would be valued at $22M which equates to 9.4c per RDM share. That assigns zero value to all of RDM's prospects.
Another possibility which cannot be discounted is that this is a broker induced rally designed to increase the share price prior to a capital raising. After all, RDM only have around $1.5M cash and the MMA shares are escrowed until 29-04-2024.
Heading up?, page-2
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Last
16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $47.92M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 16.0¢ | 15.0¢ | $15.42K | 100.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19111 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 82741 | 4 |
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| Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
| RDM (ASX) Chart |