I held a coal share (SMR) which got an opportunistic low ball offer last year. A fund purchased 20% or so and the holders on hot copper were excited that it was a blocking stake. In the end the fund sold off market at a reasonable premium and the the weakling take over offer proceeded.
I am not saying that is what is going on here but just note that because a substantial holder comes on board at this point doesn't mean it will result in a significant increase in the share price.
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