I haven't really followed this too closely but have a few...

I haven't really followed this too closely but have a few observations:

1) Given ZFX are buying shares on market they seem to be in for the long haul - AFAIK shares purchases on market by ZFX will remain effective even if the 50.1% condition is not met. It is only formal off market acceptances that will not be effective in the event of a failed takeover.

2) The person(s) buying at $1.105 may see a ZFX majority owned AGM as a potentially lucrative long term investment, given Jinchaun's stance makes it extremely unlikely ZFX will get the 90% required to go to compulsory acquisition.


3) If Jinchuan have been the buyers presumably we would be seeing a change in substantial shareholder notice in the near future.