Yes but while the free 8% of SMM shares aren't in Paladin's hands, AREVA can move the SP down and undermine Paladin's ability to derive value out of any deal. If they snapped the remaining 8% for cash equivalent of $2, almost all SMM holders would fold giving them control over Summit's valuation for in the vicinity of $50 mill of PDN stock. AREVA only has to drive the SMM SP down another 20c and they lose yet another $44 mill of book value.
the summit resources hangover, page-5
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Last
$10.98 |
Change
-0.200(1.79%) |
Mkt cap ! $3.342B | |||
| Open | High | Low | Value | Volume |
| $10.96 | $10.99 | $10.91 | $1.304M | 119.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 1077 | $10.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.98 | 632 | 6 |
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| Last trade - 10.08am 30/07/2024 (20 minute delay) ? |
| PDN (ASX) Chart |