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
16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $67.74M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 17.0¢ | 16.0¢ | $76.92K | 473.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 65538 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 78718 | 5 |
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| Last trade - 11.33am 14/11/2024 (20 minute delay) ? |
| RXL (ASX) Chart |