If they spend the same amount in shares at current price as they were going to at 3.2 cents they will own a massive chunk of the company and also have a lot more control.
Correct, but impossible for them buy 69 million dollars worth of shares on market. thats 4.3125 billion shares. Any buying of this quantity would trigger more buying and push the price well above 1.6c.. possibly well above 3c given the liquidity of SYA.
So its more likely that RCF will still proceed with their placement at 3.2c assuming the price recovers enough prior to SYA shareholders approval of the merger.
SYA Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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