I think the same. Lot's of negative sentiment here. Holders can't see the derisk to cash flows, hedge book and McPs funding. Sell at $2.70? Foolish.
Did they overpay? Yes, can't argue compared to NAV but no one gives a stake in a tier 1 asset away for free. They paid what was required in a competitive auction. This deal has no operational risk to the company. No cultural or integration risk. It's a simple bolt on. Turn on the cash flow.
I'll be participating and buying on market under $2.70. 4 year time horizon, Regis will have 650k+ oz production, no hedge book, no debt and $2.70 will look like the missed opportunity of the decade.
Tropicana, page-76
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Last
$1.78 |
Change
0.015(0.85%) |
Mkt cap ! $1.340B | |||
| Open | High | Low | Value | Volume |
| $1.77 | $1.79 | $1.76 | $6.713M | 3.789M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 49622 | $1.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 42062 | 4 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| RRL (ASX) Chart |