In my opinion, FMS is doing well by floating the (nowadays) non-core assets. The market cap of Flinders Diamonds (as the company was called before the big shareprice raise) was roughly 10 million A$.
Now they can float it, still keeping a 20% interest in the minerals and diamond sector and getting extra working capital of 8,5 million A$ (it's minus the 1,5m A$ which will be invested in the newly floated company)!!
They can put all their attention to develop the IO side.
If I had to choose where to put this 8,5m A$ to get an ASAP return on investment, than the choise is undoubtly the Iron Ore side !!!!!
Much larger AND quicker return on invested money....
And do not forget: we maybe might not get options or shares in the new company, but FMS (and thus we cq all the shareholders) will have more working capital per share; so in fact we are cashing an asset.
And still CASH is king nowadays, with a right TIMING
Klmarc
DYOR
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Last
81.5¢ |
Change
0.015(1.88%) |
Mkt cap ! $159.8M |
Open | High | Low | Value | Volume |
81.5¢ | 81.5¢ | 81.5¢ | $1.928K | 2.366K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 5045 | 82.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
88.5¢ | 7558 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 5045 | 0.820 |
1 | 13400 | 0.810 |
2 | 5573 | 0.740 |
1 | 1309 | 0.700 |
1 | 10000 | 0.650 |
Price($) | Vol. | No. |
---|---|---|
0.885 | 7558 | 1 |
0.890 | 2368 | 1 |
0.910 | 20000 | 1 |
0.980 | 10000 | 1 |
1.000 | 612 | 1 |
Last trade - 12.21pm 09/07/2024 (20 minute delay) ? |
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