CY7, good point about the 130m shares. So many needed to dilute at rock-bottom prices past 1-2 years. We're fortunate KCN didn't need to raise say $60m at $2/share in depths of GFC. The same applies to DOM.
As a shareholder of both I'm happy for selfish reasons. My DOM shares receive a healthy premium, going sub $2 recently and my portfolio is underweight KCN, which this deal rectifies.
I have to say however the 75/25 weighting flatters DOM somewhat I feel, particulaly following their reserve downgrade that wasn't adequately explained, imo. Chatree likely has decades of mining in front of it, DOM has a 4-yr reserve, hmmm...
Let's see what transpires, I've tremendous respect for Gavin Thomas and I'm sure there's exploration upside here that he'll detail in the days/weeks ahead. Hoping 1+1 = much greater than 2, but I'm struggling to see how right now.
Rowingboat
kcn coming for dom, page-19
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Last
$1.60 |
Change
-0.020(1.23%) |
Mkt cap ! $408.5M | |||
| Open | High | Low | Value | Volume |
| $1.61 | $1.61 | $1.57 | $294.8K | 185.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 396 | $1.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 635 | 1 |
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| Last trade - 11.56am 01/07/2024 (20 minute delay) ? |
| KCN (ASX) Chart |