Regis paid up capital will increase from 512 million shares to 753 million shares. The new shares will represent 32% of the company which will make the holder of these shares the controlling stakehoder. It is possible that the SP will be driven down by large short position by large institutions to make retailers to give up their entitlement. Poor SP performance will discourage retail participation.The real prize, in IMHO is McP. The gold reserves according to estimates is greater than the current market cap of RRL.
30% in Tropicana for 650 million is a steal. Revenue from Tropicana (1H20+1H21)= AUD 936 million (source: IGO Annual Report) As a Retail investor, I am going to take up my entitlement. Should the price fall below 2.70 then I will probably buy from the open market.
Then there is the risk that Ashanti Gold may block the sale. Unlikely as they may have given their blessing already as they have 70% in Tropicana JV
I am not a financial adviser and certainly not an analyst , do your homework before investing.
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Last
$1.82 |
Change
0.010(0.55%) |
Mkt cap ! $1.374B | |||
| Open | High | Low | Value | Volume |
| $1.85 | $1.85 | $1.80 | $26.27M | 14.14M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 227466 | $1.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 173839 | 7 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| RRL (ASX) Chart |