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Perilya shares drop on project sale

Shares in Perilya Ltd have dropped by over 40 per cent on news it will sell its Mount Oxide copper and cobalt project to West Perth-based Chalice Gold Mines Ltd in a scrip deal worth $25 million.

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Perilya should return the Chalice shares to its shareholders. Otherwise this sale of assets is for its directors who will get directorships in Chalice,not for its shareholders.

Eltham
Yes, they should be distributed 1 for 1 to perilya shareholders immediately on ratification. The Perilya directors should then resign from the Board of Chalice leaving the company to go on as an independant company. That is the only way to return value to shareholders.

Melbourne
What a disaster. This has not benefitted investors at all and Perilya directors need to review the effect their decision making is having on company value. I do not see the share price recovering from this sad turn of events.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/03/19

1 year TSR5 year TSR
42ndRedbank Copper100%15%
349thChalice Gold Mines-12%-1%
428thEuropean Metals-24%15%
574thEuropean Lithium-44%13%
690thBass Metals-60%35%
729 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

05/07/18
$0 Other
05/07/18
$0 Issued
05/07/18
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

129th↓Chalice Gold Mines$693k
134th↓European Lithium$659k
135th↑Redbank Copper$658k
137th↑European Metals$646k
138th↓Bass Metals$631k
485 listed resources companies ranked by revenue.
Source: Morningstar

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