FZR 0.00% 12.0¢ fitzroy river corporation ltd

The RCO board are likely to return the capital raised from sale...

  1. 323 Posts.
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    The RCO board are likely to return the capital raised from sale of the Weeks Royalty interest to shareholders. FZR is a ~47% shareholder in RCO. Ergo, assuming the capital is returned by the RCO board, FZR could arguably offer ~double market value to secure the Royalty interest if they wanted to.

    If it doesn't fetch a good price, the RCO shareprice will drop, and FZR's investment accordingly too.

    Personally, I hope FZR do win the bidding process - ~$1m p.a. from Buru and ~$600k p.a. from Weeks would underpin a ~36cps shareprice at 20x PER (ignoring any debt taken on by FZR to finance the Weeks purchase, and not accounting for the ~15cps of value FZR has in cash, BYE shares and accumulated tax losses).
 
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Buyers (Bids)

No. Vol. Price($)
1 172981 12.0¢
 

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Price($) Vol. No.
14.5¢ 254048 2
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