The fact that the board is recommending this offer is a sign that CMM are really struggling raising the money to build. CMM are not like EXU where they think they have options outside of accepting the offer. I would be very worried that the SP could totally collapse if the bid is rejected or fails for some reason.
The market seems to be in agreement with this assessment. In the case of EXU the price ran straight up to the offer price while with CMM the SP is still well under the offer price. It is not easy being a small cap developer at the moment.
Ann: RRL: Response to Media Speculation, page-23
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Last
$6.41 |
Change
-0.080(1.23%) |
Mkt cap ! $2.397B | |||
| Open | High | Low | Value | Volume |
| $6.59 | $6.60 | $6.35 | $5.091M | 793.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2857 | $6.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.41 | 1389 | 1 |
View Market Depth
| Last trade - 16.10pm 02/12/2024 (20 minute delay) ? |
| CMM (ASX) Chart |
