Obviously not much interest in this takeover, does everyone see it as a done deal?
Not much volume going through either around 1.5mil since announcement, probably a sign that punters are sitting on the fence. I am surprised that someone hasnt made a tilt at Resolute themselves, when you take out the $140 mil that their Vul holding is worth and quite a few more mil for their other holding, must be the hedge book that is holding any suitor back.
I am still underwelmed buy the takeover offer, allowing PDN to use their highly priced script to buy some really good Australian uranium assets on the cheap. Especially when the Qld govt seem to be comming around to allowing u mining.
I would have prefered Resolute to have offered to sell their stake back to the other shareholders, something like a five for one renouncable rights issue at $1.20. At least they would have $120 mil cash and not 30mil odd PDN shares.
Hopefully someone else will see Vulhallas potential, and throw their hat into the ring...
fingers crossed
Cheers Grant
VUL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
