MDI middle island resources limited
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Just went through the finer details of the announcement on 1...

  1. CorporateRadar1
    107 Posts.
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    14/03/19
    18:33
    Post #: 37765828
    Just went through the finer details of the announcement on 1 March 2019 re the takeover. Based on the pre-bid prices, here are the facts. Note, I own shares in both companies.


    Alto Metals (AME)

    Middle Island (MDI)

    Market Cap before bid

    $5.8M

    $9.4M

    Offer details

    Scrip for scrip

    5 MDI shares:1 AME share

    n/a

    Offer value

    4.5c ($9.4M)

    Premium to last & 5 day VWAP

    61%

    Cash position

    $329k (from recent raise)

    $1.9M (at Jan 31)

    Board stability since early 2016 (last 3 years)

    Dermot Ryan (resigned Feb18)

    Anna Mao (resigned Oct16)

    Bill Robertson (resigned Dec16)

    Stephen Stone (Jun16-Jul18)

    Jingbin Wang (appointed Oct16)

    Terry Wheeler (appointed Dec16)

    Terry Streeter (Mar18-Nov18)

    Patrick Holywell (Feb18-Feb18)

    Matthew Bowles (appointed Feb18)

    Same board

    Gold Resource

    261koz

    537koz

    Gold Exploration Target

    ?

    900koz -1.5Moz

    MDI Price at posting: 0.6¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch. 2  Great analysis
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1.7¢ 		Change
0.000(0.00%) 		Mkt cap ! $4.984M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
3 327578 1.7¢
 

Sellers (Offers)

Price($) Vol. No.
1.9¢ 40000 1
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