RE:RE:RE:right offerings is a combinationminingfundi wrote: I suspect that RC is operating quite satisfactorily, but it has not met the strict "commercial production" conditions set by the banks, who will grant an extension after their technical DD (and the SP will react positively). III shareholders will receive rights and, I understand, the right to oversubscribe. Rights will trade on the TSX, but they probably will not be cheap.
When a rights issue is backstopped, the rights will not trade. III needs the cash asap, so this rights offering will close quickly after announced. Those rights not exercised, will go to those who over subscribe and or Edco who is backstopping the rights issue.