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Roxgold (ROG.v): Brokerages get out of jail

A lucky escape for the brokerage syndicate (led by Cormark and Macquarie) that ran the $23m bought deal on RoxGold (ROG.v), as it was common knowledge up to around ten days ago that the placement was severely undersubscribed and the houses were staring a large baghold in the face. Then came the gold pop, life got beautiful just at the right time, the sales desks hit the phones and today ROG gets to announce the bought deal plus the overallotment is filled.

And some stuffed suit somewhere will get a fat bonus instead of a pink slip. Better born lucky than rich, they say.