re: the fundamentals behind gir
the amount of GIR required will depend on the company's discussions with the ASX.
As I understand it, the company is going to push to have the minimum level of GIR holdings 'bumped up' - to what level would honestly be a guess, but I am of the opinion that a holding of 10,000 shares should do.
By comparison...
the minimum holdings for U308 entitlement was 2,000 shares - and this caused many complaints to the company, hence the reason for them bumping it up
the minimum holding for RHI was 40,000 shares
a 10,000 share holding should do it... but the company will release more details in Feb around the capital structure....
All in all, the capital of Zinc Co will be tightly held, and the market cap will be very small....
In a bullish zinc market that is making all time highs, it is very timely to have this listing on the exchange...
I anticipate a 20cent listing price, and an opening day somewhere in the 35 cent to 40 cent range. A 1 for 2 bonus option issue will also be granted.
This should add some real value to the GIR share price when the capital structure announcement is made
GIR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
