A month ago many on this forum were anticipating such move to raise money from shareholders. It's a good option when there are only 4 major shareholders with 30% of stock and 70 % is held by retail and small investors... an amazing ratio indeed.
I for one would have preferred this to happen when SP was over 10c or after a very good announcement. 9c would have been plausible instead than 5.3c...more money for the company and a smarter business plan.
Nonetheless, 5.3c seems to be a good opportunity to increase holdings especially for the RMI board that holds only 1.6% of shares... Does these poor guys ever dream of becoming rich or they are content with digging holes!!
a little swipe but I think they are a competent bunch or I wouldn't be wasting my time...
The present situation can only indicate two things:
1- Very good news is on the way and some people in the know have positioned them selves for a bonus of shares at 5.3c . OR
2- the company is in trouble and is desperate to raise money in the absence of good results.
From the buying I've seen in the last few weeks I seems the first scenario is the one and SP should hit 15c-20c around Xmas..
In the mean time continue playing the margins between 6 - 8c. RMI remains an exciting stock.
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Last
1.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.785M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 190000 | 1.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.5¢ | 466829 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 190000 | 0.014 |
4 | 263154 | 0.013 |
1 | 100000 | 0.010 |
1 | 120000 | 0.008 |
1 | 85850 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.015 | 466829 | 2 |
0.016 | 308891 | 2 |
0.017 | 181371 | 2 |
0.019 | 300000 | 1 |
0.020 | 5000 | 1 |
Last trade - 16.12pm 06/09/2024 (20 minute delay) ? |
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RMI (ASX) Chart |
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