Article in today's West Australian about Bullseye Minerals, they are reported as able to raise $100m from the father of their female director (and $26 from a cap raise), and his associates, so they are swamped with cash. They have a 200k oz reserve, 30km from Red's Darlot mine. The newspaper says their cap raising values them at 26c a share, compared with Red's 4c offer. Also says that 72% of their shareholders have indicated they will not take up Red's offer.
As reported, it also says director Wu and his associates are trying to throw over the other 3 board members of Bullseye, with support from Wu's (chinese) shareholder friends. Wu holds about 10% of Bullseye, not sure how much his other friends hold. If I was a gambling man, I'd say it's more likely that Wu will be removed, and the other 3 directors carry on (it's a father and son team, who are real estate agents in Perth), especially now they appear to have funds of approximately $126m they could call on, and that's not a shabby amount for a small unlisted gold company with the reserves they have.
As I have said all along, baring something unusual happening, RED are wasting their time here, but good on them for trying, it was worth a long-shot.
Gw
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Last
47.0¢ |
Change
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Mkt cap ! $1.627B |
Open | High | Low | Value | Volume |
47.0¢ | 47.5¢ | 46.5¢ | $3.166M | 6.744M |
Buyers (Bids)
No. | Vol. | Price($) |
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10 | 321949 | 46.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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47.0¢ | 36580 | 1 |
View Market Depth
No. | Vol. | Price($) |
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8 | 207903 | 0.465 |
18 | 751904 | 0.460 |
12 | 516845 | 0.455 |
9 | 259424 | 0.450 |
7 | 405305 | 0.445 |
Price($) | Vol. | No. |
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0.470 | 36580 | 1 |
0.475 | 1198927 | 21 |
0.480 | 1484066 | 18 |
0.485 | 135914 | 7 |
0.490 | 638076 | 8 |
Last trade - 16.10pm 15/05/2024 (20 minute delay) ? |
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Last
47.0¢ |
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Change
-0.005 ( 0.11 %) |
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Open | High | Low | Volume | ||
47.0¢ | 47.3¢ | 46.5¢ | 2343070 | ||
Last updated 15.59pm 15/05/2024 ? |
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