Hi Gazza, no problem. I can only assume he is busy writing up his next company report.
Not sure if many follow DCN, but I bring it up, because they recently undertook a huge capital raising ($98m) at a discounted price of 70% before it stopped trading earlier in the year. It continues to produce (not overly profitably right now, but.. poor hedging was a major reason) and, without going into detail, was basically sitting at an MC of around $220m, with next cash of $8m. Producing around 120k p.a at a similar AISC than Darlot.
The cap raising was at $0.30, and the stock, even though massively diluted, did not get down to that to that price (lowest was $0.34), and today finally moved higher ($0.43) in a big way. As I read it, those hoping to buy in around $0.30, simply did not get the chance, and are now playing catchup.
As I posted above, I see a similar outcome for RED, although its hard to know exactly when it will move, I have a suspicion, it will be very close to when the new shares list (12th May), which perhaps sound counter intuitive, but... when a stock is undervalued, and a sector is rising, well... it just means the price has been stretched to the downside further than most, due to the cap raising.
All speculation on my part.
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Last
42.5¢ |
Change
0.005(1.19%) |
Mkt cap ! $2.891B |
Open | High | Low | Value | Volume |
43.5¢ | 43.5¢ | 41.5¢ | $11.42M | 26.92M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 222136 | 42.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
42.5¢ | 1437793 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 222136 | 0.420 |
24 | 1574200 | 0.415 |
20 | 1188910 | 0.410 |
9 | 346586 | 0.405 |
16 | 422698 | 0.400 |
Price($) | Vol. | No. |
---|---|---|
0.425 | 300000 | 3 |
0.430 | 1951130 | 21 |
0.435 | 906856 | 16 |
0.440 | 1629209 | 29 |
0.445 | 1133743 | 14 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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