The key point in today's announcement was the mention that if a transaction occurs in relation to the disposal of the iron ore assets that it would value the assests at substanitally greater then the curent market capitalisation (based on price of $2.38) of the company.
One needs to define substantially greater. 10%? That's probably not substantial but still equates to a share price of $2.62. How about 20%? Probably more in the ball park. That equals $2.86 per share. I'd expect more but with the quality of these Peru assets.
What would you guys define as substantially greater???
The comment also suggests that a takeover is more likely than an investment in the company.
Probably now is the time to take a position for the next week or two whilst it is cheap. Ie buying into those selling on today's news (those selling on fact).
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Last
3.7¢ |
Change
-0.005(11.0%) |
Mkt cap ! $10.35M |
Open | High | Low | Value | Volume |
3.7¢ | 3.7¢ | 3.6¢ | $6.085K | 167.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 120945 | 3.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.7¢ | 50805 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 120945 | 0.036 |
2 | 170000 | 0.035 |
2 | 100000 | 0.034 |
2 | 109250 | 0.033 |
1 | 10000 | 0.032 |
Price($) | Vol. | No. |
---|---|---|
0.041 | 85000 | 1 |
0.042 | 100000 | 1 |
0.045 | 104846 | 2 |
0.048 | 106248 | 2 |
0.053 | 2500 | 1 |
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