And maybe that's what they are considering doing. I certainly hope so.
Consider their position. They don't want to say they want to take AUZ over now by committing to buying in excess of 19.9%. But they can build up their holding before AUZ meets the conditions of funding and an operating mine. Up to 19.9% in fact.
When they get that 20% at 12c, which I assume will be newly created shares (so 25% of the 'old' shares), they would have 37.5% in the bag, and then a take-over is a piece of cake and it would be at a very low average price.
It would be the buy of the century, Tony. Corporate life is not as simple a game show, son.
The great ASX balls up, page-44
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Last
0.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.18M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.8¢ | 0.8¢ | $4.922K | 615.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 13891345 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 2205891 | 14 |
View Market Depth
| Last trade - 11.29am 05/08/2024 (20 minute delay) ? |
| AUZ (ASX) Chart |