As much as I don't like it, I can see the logic.
$1.18 prices SGI at C$0.39, $1 = ~C$0.33. Offering an SPP ran the very real risk that CYL would trade at $1 or less, virtually no premium to current SGI prices, which would probably kill a vote dead. As I've reasoned before, these new shares have gone to holders who have no intention of selling them in the short term.
SGI at C$0.27 is A$0.83 per CYL share (mine cost me A$0.95 but I'm content with that).
As an aside gold is around A$2844 overnight. Not too shabby
As much as I don't like it, I can see the logic.$1.18 prices SGI...
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Last
83.0¢ |
Change
0.025(3.11%) |
Mkt cap ! $183.8M | |||
| Open | High | Low | Value | Volume |
| 82.0¢ | 83.0¢ | 80.5¢ | $94.98K | 116.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4124 | 82.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 84.0¢ | 650 | 1 |
View Market Depth
| Last trade - 15.55pm 15/05/2024 (20 minute delay) ? |
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Last
80.5¢ |
Change
0.025 ( 1.23 %) |
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| Open | High | Low | Volume | ||
| 81.5¢ | 81.5¢ | 80.5¢ | 3068 | ||
| Last updated 10.50am 15/05/2024 ? | |||||
| CYL (ASX) Chart |