Yes, we all feel the same way at the moment (well, everyone I've spoken to other than at the Company, that is). Then again, we haven't seen the details but surely, as you say ...???
If by chance IMI is a better deal, it's incredibly well disguised at the moment as something else. The Company is going to have to do an incredible job persuading shareholders to back it, in its current form.
More realistically, IMI need to re-assess, I suggest. Nice try, but ...
If they are savvy enough to run the zinc business they need to realise straight up that their offer doesn't look attractive to Rox shareholders, and they're going to have to sweeten it up materially, IMO, eg.
* increase the total consideration (the headline figure looks second best, and if Teck are to pre-empt, we want it on the highest consideration possible)
* add more cash ($2M is not enough for Rox's exploration needs re the nickel, let alone the gold - we'll be out raising capital yet again - grrr. That's just not acceptable.)
* reduce complexity (first impressions to me are of an unduly complicated transaction, with lots of hoops to jump through - and they often end up in tears before bed-time).
This is especially so in a strong zinc market, with hot competition for quality assets like this.
Finally, the latest offer (that triggered today's trading halt - whatever it is) may add a new dimension again. Very interesting
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Last
15.0¢ |
Change
-0.005(3.23%) |
Mkt cap ! $57.48M |
Open | High | Low | Value | Volume |
16.0¢ | 16.0¢ | 15.0¢ | $163.8K | 1.089M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 368796 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.5¢ | 210000 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 6539315 | 0.008 |
15 | 12069642 | 0.007 |
5 | 2958583 | 0.006 |
5 | 3098180 | 0.005 |
3 | 1255003 | 0.004 |
Price($) | Vol. | No. |
---|---|---|
0.009 | 1924318 | 1 |
0.010 | 1406625 | 6 |
0.011 | 888479 | 5 |
0.012 | 621646 | 2 |
0.013 | 1000000 | 2 |
Last trade - 16.10pm 28/11/2024 (20 minute delay) ? |
RXL (ASX) Chart |