The logic of the stand-off is difficult to understand
If someone was pushing the price down by coordinating buy and sell orders another contender (RIO, BHP or anyone) would have the opportunity to soak up the orders as they are placed which would negate the downward SP pressure
Unless all the contenders/holders so far are in unison keeping the SP down for themselves or they are not interested in a takeover for themselves or are happy for a stake in the final outcome no matter how it ends or China has made some arms length discrete offer that Rio is having difficulty trying to match or RIO has some mining in China on the poker table or Rio have been screwed by threats of reduced future business
Maybe most of the major holders have contracted private arrangements with RIO to mine for them and happy to sit
Not much prospects for high profits when your customers own most of your business and you do the hard yakka for a margin and a small portion of the ore to sell on the open market
Maybe RIO has to be happy with that but not too many shareholders are satisfied with this first offer
Like I said, hard to understand with everyone holding their cards close to their chest
Every ones in the game with a massively big pot on the table and only a small bid and no-one calling it
Is this Chinese poker bluff that's going to win?
We know Extract have the goods and that Rio (and/or BHP?) has the muscle maybe they can join hands and call the bluff
Long term mining (and income) is still part of the pot for the winners
I say get into it
Any comment is welcome folks and good luck all
Just my opinions
G48
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Last
1.0¢ |
Change
-0.001(9.09%) |
Mkt cap ! $15.74M |
Open | High | Low | Value | Volume |
1.1¢ | 1.1¢ | 1.0¢ | $1.021K | 93.01K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 8087895 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 1376960 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 8087895 | 0.010 |
3 | 1011111 | 0.009 |
2 | 900000 | 0.008 |
4 | 833706 | 0.007 |
1 | 333333 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 1376960 | 1 |
0.012 | 10894411 | 10 |
0.013 | 10218721 | 10 |
0.014 | 9921428 | 4 |
0.015 | 1344179 | 3 |
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