My understanding is that 30 days was the deadline for Glencore to advise whether they will exercise their tag-along rights and for Anglo American and S32 to advise on whether they will pre-empt and we're currently at day 23 with day 30 being next Thursday 12th June. I suspect we'll hear any day now which I believe will be the catalyst for any move on JMS by Exxaro.
If Glencore don't tag-along and Anglo Amercian and S32 decide to pre-empt then Exxaro will have available cash to move on JMS and I suspect Exxaro already had a good idea on what they were likely to do some time ago but just waiting on the official confirmation.
I'm a little surprised the buying volume in JMS has slowed in the low 20's when the upside could easily be 50% higher.
JMS Price at posting:
20.3¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)