The way I see the deal is:
RXL paid 110m shares@30c plus $6.1 exploration fee extinguishing = $39m for VMC's 300k oz defined resources, so RXL paid $130 per oz. That is a decent acquisition by any standards. Moreover, VMC didn't lose any of the upside, in fact, VMC is more pegged to RXL price as 110m shares euqals to about 1/3 of RXL anyway.
At 30c, RXL (post consolidation) has a market cap of $100m including $10m cash for about 1m oz gold, that equals to $90 per oz, so VMC receives 40% premium whichever way you look at the deal.
The way I see the deal is:RXL paid 110m shares@30c plus $6.1...
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Last
10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $20.59M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.5¢ | $1.491K | 14.19K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 454 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 5776 | 1 |
View Market Depth
| Last trade - 14.31pm 01/07/2025 (20 minute delay) ? |
| VMC (ASX) Chart |