You would buy it because they have 5.7m oz of gold in the ground and two world class projects. Plenty of upside from there too....
CIG and their problems are an irrelevant side line for PRU.
A major gold company, wealthy individial or fund could buy CIG's stake without blinking...
PRU's "failed capital raising" - they were approached by a broker who no doubt wanted to do a sweetheart deal for themselves at a discount to market....PRU told them where to go as they should have...
From the AGM presentation they have about $7m in the kitty and will raise about a further $3m from the exercise of the March options.
If you believe in gold, PRU is easily of the better places to be....sure we'd all rather see PRU at 2.50 but that can happen faster than you imagine if the gold prices finally rumbles north.
THe USD falling below 85 on the index is the key imo. Pewrhaps tonight?
article in the business age monday 8 dec, page-6
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Last
$2.73 |
Change
0.090(3.41%) |
Mkt cap ! $3.750B | |||
| Open | High | Low | Value | Volume |
| $2.72 | $2.75 | $2.70 | $17.12M | 6.284M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11100 | $2.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.73 | 154758 | 7 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| PRU (ASX) Chart |