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29M, 29METALS LIMITED
nipper
post Posted: Jul 8 2021, 10:09 AM
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yes, 29M was a big IPO, and of existing assets, rather than projects and wishful thinking. But that implied the pricing parameters were known and any upside is bound to the Copper price, not exploration success and reserves upgrades.

Most of the money was made in the setting up, by those in on the deal. Still $2.00

https://stockhead.com.au/resources/the-boss...red-metal/?amp=



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jul 2 2021, 07:26 PM
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In Reply To: nipper's post @ Jun 11 2021, 09:27 AM

IPO offered at $2.00 , .... came to market today; opened at $1.92 and made it to $2.04 by end of trading, close to the day's high



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Jun 11 2021, 09:27 AM
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29Metals Limited (29M) is a new copper focused mining company with a portfolio of longlife producing assets and a pipeline of organic growth opportunities, comprising:
  • ... the producing longlife Golden Grove mine in Western Australia (copper, zinc, gold and silver);
  • ... the producing longlife Capricorn Copper mine in Queensland (copper and silver); and
  • ... a portfolio of exploration interests, including regional tenement interests surrounding Capricorn Copper and Golden Grove and a strategic tenement package and project in Redhill located in Chile, the world's largest copper producing country.
29Metals explores for, develops and produces metals in the form of mineral concentrates which are sold to commodity trading firms or smelters for refining and onsale as a refined metal product for end use.

29Metals is headquartered in Melbourne, with support offices located in Perth, Western Australia, and Brisbane.

Listing date .....23 June 2021 #

Principal Activities... Mineral exploration, development, and production
Issue Price... $2.00
Issue Type... Ordinary Fully Paid Shares
Security code.. 29M
Capital to be Raised... $900,000,000
Expected offer close date... 21 June 2021
Underwriter... This offer is fully underwritten. Macquarie Capital (Australia) Limited, Credit Suisse (Australia). Limited and Morgan Stanley Australia Securities Limited (Underwriters and Lead Managers)



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 



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