IKN

saucy doubts and fears

Rio2 Ltd (RIO.v)

Alex Black. Is back.

Good looking deal, I also hear the 10m share bot deal is already fully taken, so fight over that 1.5m overallotment, people.

Disclosure: Long RIO.v.

UPDATE: After the 86c close of RIO.v today comes a question from A. Reader:

“Do you think the deal will get re-priced lower?”

Answer: No way, the $10m scrip bot deal is fully subscribed already.

FWIW, the market probably reacted the way it did today on the back of the only fundies note on the merger, from Eric Zee Man at Canaccord who is still daft enough to believe Maricunga needs U$398m to get built. Not even in the ballpark, Zeeman.

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