but I am wondering why the directors priced the rights offer at such a relatively high price ...being a 10% discount to the then prevailing market price of 20 cents?
At today's shareprice the market is valuing the mining interests at a derisory $11m ...for assets that include a high grade 500K oz resource ( Vivien) of 8grams.
The fact that Sprott has invested $5m at 20 cents in the placement ..to facilitate the down payment on Vivien is significant . Sprott is a highly regarded Canadian fund manager- expert in precious metal investment. They would know that there are few high grade gold resources to invest in Australia today. So I am wondering if they will sweep up the balance of the substantial shortfall from the rights issue .If they get to 20% this would be a major plus .
For the longer term holder RMS must be cheap at these prices .
entitlement, page-4
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Last
$2.12 |
Change
-0.020(0.93%) |
Mkt cap ! $2.428B | |||
| Open | High | Low | Value | Volume |
| $2.13 | $2.15 | $2.09 | $1.313M | 620.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 25787 | $2.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.13 | 68412 | 32 |
View Market Depth
| Last trade - 14.01pm 07/10/2024 (20 minute delay) ? |
| RMS (ASX) Chart |