I think the obvious solution to the current situation is a merger with Aurelia. Aurelia has 2 mills nearly, has around $70 million in cash and no debt and needs more ore to increase their resource base. In a rational world a deal could be done. It is unsustainable for Peel to keep raising money every 6 to 9 months at ever reducing prices just to keep the drilling going.
In reality they need around $200m to really get going and it is not going to happen.
Great progress for Peel Mining, page-38
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Last
12.5¢ |
Change
-0.010(7.41%) |
Mkt cap ! $72.63M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 13.0¢ | 12.5¢ | $98.61K | 782.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 21762 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 15999 | 1 |
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| PEX (ASX) Chart |