Why would RDM chip in to MMA's cap raise? Doesn't RDM already have a huge 53% holding, so letting the raise go to brokers/insto's/sophs would improve the MMA free float and liquidity. That would benefit RDM as more liquidity means RDM can sell down its MMA holding easier if push comes to shove.
I would also argue at the current RDM market cap, either Sybella or MMA aren't being valued by the market given the very low Sybella EV against peers who have sole RE projects focus. Due to this more MMA shares won't help RDM valuation IMO. Market probably just looking at RDM market cap when comparing against peers, probably too much work to dig into the financials and work out an EV!
Red Metal Banter, page-428
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Last
15.5¢ |
Change
0.005(3.33%) |
Mkt cap ! $46.42M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.5¢ | 14.8¢ | $14.65K | 96.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 56333 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 44838 | 1 |
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| Last trade - 15.32pm 28/06/2024 (20 minute delay) ? |
| RDM (ASX) Chart |