Whilst SMY remains a potential takeover target, I believe the recent gains are mainly related to a booming nickel price.
All other nickel stocks on my radar are flying up as well.
Now that AXA and PH have finished selling it's taken a bit of the downwards pressure off the share price and allowed it to come back to it's true value.
Happy to be proven wrong though, and I would be at the front of the queue cheering if a reasonable takeover offer landed on the table.
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sally malay mining limited