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 .
but I am wondering why the directors priced the rights offer at...
Add RMS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.16 |
Change
0.040(1.89%) |
Mkt cap ! $2.494B | |||
| Open | High | Low | Value | Volume |
| $2.19 | $2.20 | $2.14 | $6.902M | 3.202M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 221 | $2.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.16 | 36399 | 6 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RMS (ASX) Chart |