I comment to keep manganese before y'all.
There is a genuine opportunity here for S32 to buy more of an asset it knows better than anyone and already operates.
AAL has their 40% of the JV for sale. They can strut up and down and preen their feathers and reject price offers as 'low-ball' all they like.
S32 just has to sit and wait while AAL tries to drum up alternative interest to set a price.
Manganese is ~13% of the post-IMC business (14 May Business Update Slide 6). Buying out AAL would bump that to ~21% and strengthen S32.
A discount for cash?
Ash
Ann: Australia Manganese Update, page-122
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Last
$3.83 |
Change
0.070(1.86%) |
Mkt cap ! $17.31B | |||
| Open | High | Low | Value | Volume |
| $3.80 | $3.86 | $3.74 | $73.18M | 19.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 106377 | $3.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.85 | 238289 | 23 |
View Market Depth
| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| S32 (ASX) Chart |