Australia's largest stock trading and investment forum Australia's #1 stock forum

MRY

Click for more information

0.00%

2.7¢ monteray mining group ltd

No sense buying much over 2c, page-2

First 2 Last

Share
Profile

Follow
.y.

3,566 Posts.

16/01/15

12:20

Post #: 14594330
Share

Originally posted by GreenTuatara ↑

There are currently 130m MRY shares.

After the reverse takeover this will be diluted to 668m (187.5m coming from a raising at 2c, the other 350m is effectively Norwood, who now control MRY, issuing itself 350m shares in the new company - which is normal and how a reverse takeover works) plus another 150m preferred shares that will be converted to ordinary shares if Noorwood:

1) "Are awarded two separate ‘Material Contracts’ whereby a ‘Material Contract’ is defined as a contract with a third party which generates gross revenue to Norwood of at least $200,000 in any 12 month consecutive period" (For 75m shares)

and

2) "generate gross revenue for any 12 month consecutive period of at least $3.0 million" (for another 75m shares)"

So easy targets you'd hope - that gives 818m shares. (more than 6 x currently in existence)

Plus there will be 43.6m options exercisable at 2c (and another 9m options exercisable from 2.5c to 4c).

So to think you need to rush in and pay 50% above listing price now seems quiet illogical given there will be so so so many more shares coming on the market for a maximum of 2c.

Please let me know if there are any flaws in this breakdown.

Expand

No flaws whatsoever Tuatara
Purely the FOMO factor driving this one.

MRY Price at posting: 3.4¢ Sentiment: Sell Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

EMD

Emyria's Empax Centre chosen for mental health clinical trial

ASX Market Update: Shares fall flat as GYG soars on debut | 20 June, 2024

AML

Cultural heritage agreement puts Walford Creek exploration back on the map

SBW

Shekel Brainweigh CEO Nir Leshem weighs in on AI adoption ahead of FY25

Plagues precede widespread power shifts. We’re living in one – and minerals are at the fore

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

BRX

Belararox delineates another porphyry in Argentina at Tambo South

STX

Strike Energy secures $153 million for Perth Basin gas projects

RDN

If you thought lithium was dead, think again. The Pilbara will be central to the next upswing

FHE

Frontier Energy achieves key milestone for Waroona energy project

There are more pages in this discussion • 61 more messages in this thread...

First 2 Last

Add MRY (ASX) to my watchlist

SPONSORED BY