IF the 'material funding transaction' involves a placement, IMO SIMEC / Another would need to pay a significant premium. Try buying ~ 30M shares on-market and see what that does to the SP.
A precedent has been set in September 2011 when 'MMG agreed to take a placement of 4,000,000 Havilah shares at an issue price of $1.25, raising $5,000,000.' Source: ASX release 6/9/11. The prevailing SP was ~ 50c.
Dr Giles is the only surviving member of the HAV leadership team that negotiated that placement with MMG.
FWIW $1.25 ps implies a valuation of $273M (undiluted; $304M diluted), a steep discount to various valuations of HAV's existing JORC resources.
IMO any placement (of up to ~ 30M shares) to SIMEC/ Another should be north of the $1.25 ps that MMG paid. However given the track record of HAV’s current leadership we shouldn't hold our breath.
DYOR
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Last
18.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $56.99M |
Open | High | Low | Value | Volume |
19.0¢ | 19.0¢ | 17.5¢ | $38.28K | 213.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 48753 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 77972 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 48753 | 0.175 |
6 | 111588 | 0.170 |
4 | 110784 | 0.165 |
4 | 150250 | 0.160 |
1 | 20000 | 0.155 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 77972 | 1 |
0.190 | 40000 | 2 |
0.200 | 5000 | 1 |
0.240 | 13000 | 1 |
0.250 | 2610 | 1 |
Last trade - 14.39pm 13/09/2024 (20 minute delay) ? |
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