RE:RE:WTF another 1:10 RS casino,
Aura Minerals seems to have followed Caledonia Mining'sstrategy of making its stock more marketable to institutional investors. CALVF did a 10 to 1 RS followed by another 5:1 RS in order to reduce the stock float from 500 million shares down to 10 million shares.
Aura Minerals after the RS will have only 4.4 million shares but the stock price will be upped to $14.20 USD. The first thing that should go away is the spread between the ask at $15.25 USD and the bid at $13.63 USD should go away.
The higher stock price will enable ARMZD to do M&A actions which would have been impossible with the stock stuck at $1.42.
ARMZD shares are now scarce as hen's teeth, so I am holding on to my Aura Minerals shares.
I expect the shares to reach 3 digit prices long before other gold juniors as a consequence of the latest RS.