Ann: Penny Gold Mine Update, page-28

Hi m0ngy,

I firstly need to apologise, my earlier post was based on some assumptions and... poor memory. In any case, hopefully I now have the facts at hand, which... to be fair, temper my views slightly, but... I still view RMS as having paid a very high premium for SPX.
RMS paid in shares/script $235m at the time of their offer to Spectrum holders, however, the price of gold kept moving higher as the takeover offer progressed, so... Spectrums eventual price was north of $270m when it completed (last 10% were compulsorily acquired). Which I am happy to disagree with you about, but.. they are the numbers.

Can you find another explorer with a high grade resource (no reserves) with a similar price metric on the ASX? Again.. explorer.
The metrics might get close if you are talking about a high margin producer... perhaps RRLs recent acquisition.



I struggle to understand how you view issues script as having no affect on a companies share price.

Cheers @tangs - just here to help pass the time whilst we wait for RMS and our other stocks to make us a decent return