Let's say you are correct. No Rox TO while the JVs are in place.
But Venus is very vulnerable to a TO as a gateway to a TO of Rox.
Venus has a market valuation of $28m. It has at least $7m in cash and cash equivalents (Bonds) and holds 2% of Rox.
Venus has tenements that would have to worth at least $5m and probably more like $10m.
Venus has mostly disgruntled shareholders as it is well known as a lifestyle company.
A $35m bid would probably TO Venus
After the sale of the non Youanmi tenements and use of Venus's own cash, the TO cost would be between $18m and $23m which also snares 2% of Rox.
The Rox Board would be very aware of the threat posed by Venus as a stepping stone to a TO they do not want.
Rox has repeatedly tried to buy out VMC's stake in Younami without success.
They would have to thinking of a preemptive TO of Venus to de-risk Rox.
100% ownership of all Youanmi tenements is worth a lot more than $18m or so,
- Forums
- ASX - By Stock
- RXL
- Where’s the bottom?
Where’s the bottom?, page-92
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RXL (ASX) to my watchlist
|
|||||
Last
13.5¢ |
Change
-0.005(3.57%) |
Mkt cap ! $55.25M |
Open | High | Low | Value | Volume |
14.0¢ | 14.0¢ | 13.0¢ | $95.06K | 682.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 11999 | 13.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.0¢ | 70750 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11999 | 0.135 |
13 | 504871 | 0.130 |
4 | 258196 | 0.125 |
7 | 364349 | 0.120 |
1 | 100000 | 0.115 |
Price($) | Vol. | No. |
---|---|---|
0.140 | 70750 | 2 |
0.145 | 130100 | 2 |
0.150 | 209652 | 3 |
0.155 | 105000 | 2 |
0.160 | 257281 | 3 |
Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
Featured News
RXL (ASX) Chart |