Good morning Speculator and your posts are always thought provoking.
On the subject of the acquisitive eye of the Ramelius;
I think a $220 million cap raise at $1.32 a share equals 166 million new shares (someone else truly needs to confirm this as, even when I ask google, I can get numbers wrong)
…And on participation in this raise, the Ramelius holding will be 19.9%?
They had 17.89% as of July 1
[notice] which means they could only acquire about 1% of new total shares on issue (
around 1.28 billion after raise?) without setting off takeover ructions
………. So, if they have the cash to buy (‘only’~$1.28m?) why would they NOT jump into this excellently priced offer?
-Regardless of whether the acquisitive eye will be hungry again later?
So despite that the increase has increased media and HC speculation on Ramelius takeover I am wondering
(until someone corrects my maths) if anyone else large has seized the bulk of this opportunity?
And the only thing I wanted to add was that, when I asked about timing on the mill starting up again (
Nick said something like ‘ah the gold bars question!’ ) they said they estimated bringing it all together would take about 18 months.
I queried; did that mean they felt they would be starting production around EOFY ‘26 and they thought a bit and nodded.
I don’t know how that fits in with the question of 200 kilos of gold a year in 2027
(which, under that 18 month scenario, would be first FY of production?) but I thought I’d add those comments .
Perhaps someone going to the Melbourne event can clarify?
cheers
