Getting an insto on the books would be a strong indication of potential.
The trouble is that IM made it quite clear that they are looking to commercialise (sell off) their 30% stake and not keep it on the books.
The other option that was indicated was spinning it off into a new company - in that case insto support would be a possibility and necessity.
With 2 quarters of cash left RXL needs new money to come in soon - you would be tempting fate trying to raise money 3 months further down the track.
So unless they spin it off then some form of CR looks likely to me.
I am not down-ramping - I already own the stock - just wondering how they will raise funds in the short term.
Getting an insto on the books would be a strong indication of...
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Last
15.0¢ |
Change
0.010(7.14%) |
Mkt cap ! $59.05M | |||
| Open | High | Low | Value | Volume |
| 14.0¢ | 15.0¢ | 14.0¢ | $45.89K | 310.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6800 | 14.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 58006 | 2 |
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| Last trade - 16.10pm 01/08/2024 (20 minute delay) ? |
| RXL (ASX) Chart |