AMCU offers new hope. However, this shift in power is going to take some time to play out as NUM is not going to disappear quietly into the night; it has a 30-year history. The impact is not only going to be felt at the mines as the tensions continue, but as Cosatu is a member of the tripartite alliance, there are political implications as well and this is going to continue to play out for some time. and the market did not panic or sell off the stock, so bingo. Another rights issue announced, this time to raise just over R600m.
Coupled with its first profit, the market continues to love this stock and you have to hand it to management, testing the market appetite for another rights issue was inspired and it means another R600m in the bank for Curro.