Big buyer seeksMineral Resources stake
By Sarah Thompson & AnthonyMacdonald
Nov 28 2018 at 5:10 PM
Updated Nov 28 2018 at 5:10 PM
There is a big buyer trying to get its hands on asignificant parcel of Mineral Resources shares.
As first reported by Street Talk, one of thecountry's big brokers is calling around seeking a stake in the $2.7billion miner and mining services provider.
Fund manager sources said UBS was in the market onWednesday afternoon seeking a few hundred million dollars worth of shares.
It's believed the buyer is an "insider"with market sources pointing towards one of the company's cashed-updirectors. Multiplex heir and Perth billionaire Tim Roberts joinedthe board two years ago, while natural resources banker JamesMcClements took up a seat in 2015.
Chris Ellison-led MinRes last traded 5.4per cent higher at $14.96. Wednesday's trade saw 2½ times normal volumechange hands, with UBS leading the broker market share.
Sources said it was unlikely to be a corporatebuyer seeking the shares, given the blocking stake held by Mineral Resourcesmanagement including CEO Chris Ellison.
The potential sale comes less than a week after Ellison struck adeal to sell a half-share in MinRes' Wodgina lithium project to battery metals giant Albemarle for a whopping $US1.15 billion ($1.6 billion).
MinRes and New York Stock Exchange-listed Albemarleare expected to finalise the Wodgina deal within weeks in what is amajor breakthrough for Ellison's plans to build a lithium hydroxide plant atthe mine about 100 kilometres from Port Hedland in WA's iron ore heartland.
Albemarle and MinRes will form a 50-50 jointventure to own and operate the hard rock mine and eventually an integratedlithium hydroxide plant.
The sale of the 50 per cent stake comes two yearsafter MinRes bought Wodgina for a song from Global Advanced Metals.
https://www.copyright link/street-talk/big-buyer-seeks-mineral-resources-stake-20181127-h18fsh
- Forums
- ASX - By Stock
- Fin Review - Big buyer seeks Mineral Resources stake
Big buyer seeksMineral Resources stake By Sarah Thompson &...
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MIN (ASX) to my watchlist
(20min delay)
|
|||||
Last
$75.07 |
Change
1.400(1.90%) |
Mkt cap ! $14.70B |
Open | High | Low | Value | Volume |
$74.00 | $75.56 | $73.92 | $41.58M | 555.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1927 | $75.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$75.39 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 15 | 74.640 |
1 | 71 | 74.110 |
2 | 57 | 74.000 |
1 | 270 | 73.810 |
1 | 136 | 73.200 |
Price($) | Vol. | No. |
---|---|---|
75.480 | 52 | 1 |
75.560 | 132 | 1 |
75.650 | 32 | 1 |
75.690 | 39 | 1 |
75.800 | 1640 | 2 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
Last
$75.37 |
  |
Change
1.400 ( 2.26 %) |
|||
Open | High | Low | Volume | ||
$73.99 | $75.54 | $73.99 | 50823 | ||
Last updated 15.59pm 03/05/2024 ? |
Featured News
MIN (ASX) Chart |