At least red rock are prepared to underwrite to 1.1 millretail...

At least red rock are prepared to underwrite to 1.1 mill

retail holders will have to weigh up, 15.3c off market or 20c + 1/2 free option compensation.

Thats saying that the half free option (1 for 2) is worth 5c, or that every option must be valued at 10c for the numbers to add up.

ie, pay 40c, get 2 shares, and 1 option.
Value of 2 shares worth 30c at market today, therefor option must be worth 10c.

I dont think with the heads at 15c, that the options will be valued at 10c, more like 3c.

So, IMO, retail holders who get this math will not take up their rights.

Cheaper to pay 15c on market, or 3c for the oppies.

good luck,

hope it turns around for you all.