Word arrives from secret sources that RBC Capital Markets, lead runner for Franco Nevada’s (FNV) August 2014 bought deal, still has 1.3m shares in inventory after failing to shift all its allotment. As RBC took them on at U$59.75 and right-here-right-now FNV is trading at U$48.98, that puts RBC in the hole to the tune of U$14m.
No news from the other book participants, CIBC and BMO.
Much upside overhang in your medium-term future, Pierre?