Well...Glencore is a takeover machine. As we all know. They have cash and they have the means. Glencore is strong in Zinc and in the case of BTR they would by Mumbwa and a possible giant deposit for little money.
The long term holders here and the "big boys" that were invested since the beginning (AIM resources) will not sell below A$ 1.20-1.50 (I guess this is the cost price of most of the long term holders. So I think that would be the minimum price to be offered. I guess 200m for BTR (approx. 1.80-2.00 per share) would be a "fair" offer.
Personally I think that a takeover at this stage would not be the best solution for the long term holders. I am still convinced that Mumbwa will turn out to be by far larger then expected and then we are not talking of 200m but rather of 1 or 2 bn for a takeover. Might take another few years.
So in my view the best case scenario is:
Perkoa goes into production and delivers robust cash flow to develop Mumbwa. When then the value of Mumbwa is clear a takeover by Glencore. Question of time.
One thing in my view is for sure. BTR is still cheap and it seems that some investors have realized that.
Well...Glencore is a takeover machine. As we all know. They have...
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Last
1.8¢ |
Change
0.001(2.94%) |
Mkt cap ! $124.8M | |||
| Open | High | Low | Value | Volume |
| 1.7¢ | 1.8¢ | 1.7¢ | $8.991K | 519.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 59 | 16815341 | 1.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.8¢ | 6045015 | 14 |
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| Last trade - 15.46pm 11/10/2024 (20 minute delay) ? |
| BTR (ASX) Chart |