To be sure, RBC is not a small bank - it is in the top 50 globally and is another tick of confidence for RAZOR.
However, holders should be a little concerned that their latest press release shows they have only 2 more sales in the "most likely" category. They are at the "bidding" stage for a further 9 mandates, any revenue they get for successful sales from these will be some considerable time away.
Cash flow looks to be very tight for at least the next 12 months.
As an aside, it was interesting to see the market reaction to the announcement of the RBC contract. Notwithstanding this sale had already been announced (yesterday they only put a name to the deal), some seemingly uniformed punters saw fit to grab the offers up to 15.5c.
Needless to say there were plenty of happy sellers up their and as we know, the stock drifted back to 14c at the close.
ITE
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