Can any sensible holder here see any other outcome other than a successful bid from CGNPC ?
It seems to me that RIO have done a deal of some kind and taken a back seat for now after selling their KAH shares. If they had any intention to contest the bid they would have done it during the KAH bidding process. It's pretty safe to assume that RIO will now agree to this offer also and sell their 14.22% to CGNPC. This gives the Chinese 56.96% of the company and effective voting control. So even if no-one else accepts the offer the Chinese have control. They can then vote through whatever they want (a deal with RIO to mine the resource for example) and holders have little say. Only a small percentage of the shares are held by private individuals so no amount of tub-thumping is going to stop CGNPC. Especially given what happened at KAH where all the institutions caved and took the offer.
Sadly I can't see another way this plays out. Both CGNPC and RIO have played a blinder here. CGNPC will own the resource and RIO will get to mine it under some pre-arranged deal.
Can anyone think of another way this can pan out ? any bones to throw me ?
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Last
1.2¢ |
Change
0.001(9.09%) |
Mkt cap ! $17.69M |
Open | High | Low | Value | Volume |
1.1¢ | 1.2¢ | 1.1¢ | $186.5K | 16.90M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 1839866 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 5957042 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 1839866 | 0.011 |
4 | 3325000 | 0.010 |
6 | 5302109 | 0.009 |
12 | 5082697 | 0.008 |
8 | 2806577 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 5957042 | 4 |
0.013 | 4803715 | 5 |
0.014 | 1071428 | 2 |
0.015 | 1324179 | 2 |
0.016 | 500712 | 2 |
Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
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