Well I'm glad you have faith in the processes.
We shall see. If it pans out the way I think it will, ie with the asset being sold rather than a takeover I'm predicting
$85,000,000/ 780,444,453 shares = $0.109/share.
ie my guess is RRL will offer about 16.25 million shares to CMM for the Bibra project with an in species distribution to shareholders of about 2.1 RRL shares for every 10 CMM shares.
So a return on the current share price of about 45%.
Easy no brainer 45% return for anyone who wants it and can wait for the process to unfold IMO, but a very disappointing result for investors who want exposure to longer life new gold mines going forward.
Hope we get better than this but I'm not expecting any better. RRL win twice as their share price has improved since the original incomplete offer and they won't be forced to pay a fair price as they only need 50% of cast votes to fire sale the asset to RRL. Esh
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Last
$6.49 |
Change
0.050(0.78%) |
Mkt cap ! $2.397B |
Open | High | Low | Value | Volume |
$6.43 | $6.55 | $6.37 | $6.461M | 999.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2845 | $6.48 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.50 | 4682 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 135 | 5.570 |
5 | 14915 | 5.550 |
2 | 7023 | 5.540 |
4 | 10250 | 5.530 |
1 | 3000 | 5.520 |
Price($) | Vol. | No. |
---|---|---|
5.600 | 26965 | 9 |
5.610 | 9400 | 4 |
5.620 | 15379 | 3 |
5.630 | 13592 | 3 |
5.640 | 6546 | 1 |
Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
CMM (ASX) Chart |