It's about time to make a decision on the SPP. Personally I'm inclined to buy in at 10cps. Appears cheap at that price and worth a punt. After the $65 cap raising, market cap will be $78m. Not bad given gold reserves, operating plant, potential long term production outlook and exploration (negatives being the CDO, challenging path towards restarting operations, and their long history of poor performance). Company will be debt free and with $20m working capital.
With 3950 eligible shareholders for SSP would expect this to be over-subscribed.
I feel that a 10cps cap raise is the best management could do in their situation and market conditions. Would assume that interest would be lacking in a CR or takeover at higher prices. (I'm also losing about 90% on my original investment - not happy).
(I concede I'm not up to speed with some issues discussed on this board).
Cheers
share purchase plan
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add RED (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
36.0¢ |
Change
-0.010(2.70%) |
Mkt cap ! $2.448B | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 36.5¢ | 34.5¢ | $18.03M | 50.46M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 588995 | 36.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.5¢ | 407514 | 10 |
View Market Depth
| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| RED (ASX) Chart |