Ormonde Mining PLC (ORM) have allegedly received an offer (no cash folks) that equates to 1 Almonty Industries (TSX-V: AII) share for every ten ORM shares. Logical, would/should the management of ORM like to update their shareholders?? Whoops!
Seems a bit rich but willing to be wrong, considering all the same, perhaps the market knows more. Do AII see more value than the market at circa 3.5-3.75 pence pending how you do the maths? Over to Oaktree whom won't be happy having their party crashed. Could there have been a bit of egg on the face of certain individuals?
Atb Fraser
Fraser- yes, sorry on cash flying around here so that all share offer would be the equivalent of 3.5p today. Its clear that ORM need to man up and make public the terms of their Oaktree deal, as its impossible to compare offers now. Almonty are a similar size to ORM in mkt cap terms, so perhaps some clues are needed from them as to how the capex is to be funded is needed too. Almonty did walk away from Woulfe last month, so that's another factor- will they complete any deal. More questions than answers at this stage for me.
ReplyDeleteCheers. The Leggie