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
$3.14 |
Change
0.040(1.29%) |
Mkt cap ! $14.22B | |||
| Open | High | Low | Value | Volume |
| $3.09 | $3.16 | $3.09 | $86.16M | 27.46M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 46373 | $3.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.15 | 16600 | 10 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| S32 (ASX) Chart |