Rueters - yesterday RIO CEO stated they are looking at smaller buyouts/purchases to "smooth their port folio". SVM were one of two mentioned in the article along with possible copper and lithium - no companies mentioned but a hot market environment stated.
It is obvious for all observers in that this is how Middelmas prefers and operates very successfully - resource discovery - sell it onwards. This is a very superior asset to many others - really tip of iceburg to what is on combined tenements.
Whilst it would be preferred for shareholder to proceed to development and reap huge cashflows - SP growth as other rutile miners enjoy and graphite miners soon to enjoy it is looking highly likely RIO will take the lot - at what premium price time will tell and when? I would anticipate sooner than later for RIO to buy in at lower premium before the SP rolls - of course share holder approvals needed.
Quite disappointing this RIO stake has gone largely un noticed by markets - anticipate SP climbing in lead up to PFS timeline in 6-8 weeks and there after. GLTAH - certainly in a prime position now.
RIO TINTO BUY OUT
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Last
75.0¢ |
Change
0.015(2.04%) |
Mkt cap ! $449.9M | |||
| Open | High | Low | Value | Volume |
| 73.5¢ | 75.5¢ | 72.5¢ | $266.0K | 360.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2686 | 73.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 75.0¢ | 7475 | 2 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| SVM (ASX) Chart |