Unless one is expecting an imminent collapse in PCI prices, on any reasonable metric this is way underpriced. Could normally wait for market to recognize value but have only two weeks until back in suspension.
What the dickens are Morgans doing, or more correctly not doing? With its fundamentals, financials, small free float and small daily turnover this should be a cinch to legitimately pump up prior to the float. I am a long term client of Morgans and called to to express interest and have heard nothing back. Realm need to give them a serious kick up the backside or find another lead manager pronto.
The float price will be close to the market price in last week of trading. I doubt that Taurus will allow themselves to be diluted by a float at these prices. Think at least double for them to let it go ahead.
Hence my question, is there a plan B? Maybe time to read up on rules re privatisation and compulsory aquisition of minor share holdings.
ps 1. As per my prvious posts I still think they did no one any favours by issuing 91m shares in the last few months to directors and staff and telling us 6.15c was a fair price when they were planning a capital raise at a price hopefully well in excess of this. Sneakyness like this can come back and bite you.
ps2. Always the eternal optimist I am doing my bit and topping up at these prices. Would not need much small retail buying to drive this up. Help needed.
RRP Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
