If they want a quick capex they would raise with sophisticated investors. I suspect MMA will do an entitlement offer on a 1 for 10 basis (can only raise 10% without shareholders approval) which would issue 15.95M shares @ say 25c raising circa $4M and I suspect shareholders will be able to subscribe for the shares not taken up by RDM. Failing that, Crescat Capital would more than likely take up any undersubscriptions. MMA only needs a cash buffer to see them through to October 19 2024 when 50M 30c options are due for conversion.
After a 10% capex, RDM's percentage holding will fall to 47.5% and if they convert the 4M outstanding options into shares then their percentage holding will increase to 49.7%. Regardless of this, when the October 30c options are converted, RDM's ownership of MMA will reduce to below 40%.
I agree, RDM should not waste valuable cash trying to maintain their percentage ownership in MMA.
- Forums
- ASX - By Stock
- Red Metal Banter
If they want a quick capex they would raise with sophisticated...
-
- There are more pages in this discussion • 97 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RDM (ASX) to my watchlist
(20min delay)
|
|||||
Last
14.0¢ |
Change
0.005(3.70%) |
Mkt cap ! $41.93M |
Open | High | Low | Value | Volume |
14.0¢ | 15.0¢ | 14.0¢ | $8.547K | 58.73K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 75000 | 14.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.0¢ | 68158 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 75000 | 0.140 |
3 | 35813 | 0.135 |
2 | 138461 | 0.130 |
4 | 70007 | 0.125 |
1 | 16583 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.150 | 68158 | 4 |
0.155 | 84041 | 2 |
0.160 | 207500 | 4 |
0.165 | 35577 | 2 |
0.170 | 32258 | 1 |
Last trade - 11.59am 19/06/2024 (20 minute delay) ? |
Featured News
RDM (ASX) Chart |
The Watchlist
INF
INFINITY LITHIUM CORPORATION LIMITED
Ryan Parkin, Managing Director & CEO
Ryan Parkin
Managing Director & CEO
Previous Video
Next Video
SPONSORED BY The Market Online