Has it occurred to anyone that selling 51% of Uley for $32m may not be the best way to increase mkt cap/shareholder value?
While it was a good deal/only deal just a few weeks ago the graphite investment landscape is changing at a rapid pace. Focus Metals seems very apptly named, although Focus Graphite might have been better.
This proposed US co. deal reminds me a bit of the Lynas/Chinese TO that fortunately got blocked.
To self fund the Uley development, and retain 100% of Uley, SER would need to raise 0.11 per share.
Where would the SP have to be to get that away??
As flatchat pointed out the Focus mkt cap is now $81M v SER $51m for a broadly similar resource.
Theoretically SER could raise the $30m required without diluting current SP value.
At the least they should be able to negotiate a far more attractive deal from this unnamed US co.
+50 value, page-9
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1.9¢ |
Change
0.001(5.56%) |
Mkt cap ! $12.71M | |||
| Open | High | Low | Value | Volume |
| 1.9¢ | 2.0¢ | 1.9¢ | $25.70K | 1.350M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 394557 | 1.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.0¢ | 1012333 | 6 |
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| SER (ASX) Chart |