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15.3¢ rox resources limited

Ann: Offer to acquire Reward Zinc JV Interest,RXL-IMI.AX, page-28

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vincerli

5,651 Posts.

42

19/07/16

18:09

Post #: 18309809
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Originally posted by Al850n ↑

This is an awful transaction. It is clearly designed to flush out exercise of pre-emptive by Teck, but I question the sense of it.

My observations are:

1) the nominal value seems disappointingly low compared to the manor in which directors have previously described the asset (i.e. "world class"). I guess it's possible to have a world class relatively worthless asset.

2) in the absence of a cash offer, pre-emptive rights often have fairly complex methods to determine the price at which a pre-emptive operates. If the pre-emptive reference market value of non-cash consideration, there may be an opportunity for Teck to pay an even lower price. i.e. do we really imagine IMI shares will be worth the ascribed value??

3) on a personal level, I bought these shares recently on a bit of a punt on Zn price. What a bummer! Should have just gone long Zn futures...

4) in all fairness, I guess it just confirms the efficient market hypothesis and that the market is usually right. It's basically a worthless group of assets - just like the share price told us!

All good fun.

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have look at imi ann, thought they raise 12 plus mil as part. haven't studied but definitely good for imi holders if proceeds imo.

RXL Price at posting: 2.3¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 15.3¢		Change -0.003(1.61%)		Mkt cap ! $57.48M

Open	High	Low	Value	Volume
15.0¢	16.0¢	15.0¢	$530.6K	3.470M

Buyers (Bids)

No.	Vol.	Price($)
17	881544	15.0¢

Sellers (Offers)

Price($)	Vol.	No.
15.5¢	88176	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 - 15.00pm 25/11/2024 (20 minute delay)

RXL (ASX) Chart

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