In today’s briefing:
- Insignia Financial (IFL AU): Bain Matches CC Capital’s Terms. And Also Afforded DD
- Are Paladin investors celebrating too early?
- ADX Energy (ASX: ADX): Permit award in Italy opens a new growth area
Insignia Financial (IFL AU): Bain Matches CC Capital’s Terms. And Also Afforded DD
- On the 17th Jan, CC Capital lifted is indicative Offer for Insignia Financial (IFL AU) to A$4.60/share from A$4.30/share, a ~50% premium to undisturbed. Limited, non-exclusive due diligence was subsequently provided.
- As discussed in Insignia Financial (IFL AU): Bumpity Bumpity. Expect Bain To Match – Or Exceed – CC Capital’s Term, I expected Bain to match CC Capital’s terms.
- Today Bain did just that, tabling a NBIO at A$4.60/share. Bain was also provided with limited, non-exclusive due diligence.
Are Paladin investors celebrating too early?
- Evo Group cash flow was around 165 million
- Paladin had a 12-day shutdown in November, impacting production
- Water challenges and stockpile grade affecting Paladin’s guidance and operations
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ADX Energy (ASX: ADX): Permit award in Italy opens a new growth area
- ADX has been offered and accepted the “d 363 C.R-.AX” permit in the Sicily Channel, offshore Italy, covering a maximum area of 346 km2.
- ADX applied for the permit in 2018, but the moratorium on awarding new exploration blocks in Italy was only lifted last year.
- ADX will become a licensed operator in Italy as well as Austria and Romania.
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