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67.5¢ tietto minerals limited

Thankyou for that...... Such actions by influential holders sure...

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Hinchinbrook

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20/07/22

14:07

Post #: 62630735
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Originally posted by FatManWalking: ↑

Article as above.Thanks@Davisite

Bankers pitch Tietto Minerals after Chinese miner buys in
Anthony Macdonald,Sarah ThompsonandKanika Sood
Jul 20, 2022 – 12.52pm
The defence mandate pitches are flying towards tightly held West African gold play Tietto Minerals, after a Chinese gold miner revealed its interest in the company.
Zhaojin Mining Industry Company Limited lodged a substantial shareholder notice for a 5.2 per cent Tietto Minerals stake late last week, showing it accumulated a stealth stake in April and May before jumping above the disclosure threshold on July 8.
Tietto’s project is due to start pouring gold later this year. Bloomberg
Zhaojin is significant player in gold in Asia. It is the largest gold producer in China’s Shandong Province, an area known as the country’s “gold city” thanks to its ample reserves and long mining history, is listed in Hong Kong with about a HKD21 billion ($3.9 billion) market capitalisation and recorded $1.5 billion revenue last year.
Zhaojin predominantly has mines in China, however has popped up at Tietto as its project is on track to become the West Africa’s next producing gold miner.
Tietto owns the Abujar Gold Project in Côte d’Ivoire (Ivory Coast), which is targeting first gold pour by the end of the year, and the companyraised equity in 2021andthis yearto fund its project through to production.
RELATED QUOTES
TIETietto Minerals Limited
$0.4403.53%
1 year 1 day
Jul 21Oct 21Jan 22Jul 220.2700.4500.630

Updated:Jul 20, 2022 – 1.57pm.Data is 20 mins delayed.
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It’s not known whether Zhaojin has plans to take its Tietto interest further; however, bankers reading the smoke signals haven’t waited around for an invitation. It is understood they’ve been sending proposals to defend the company, just in case.
Tietto, listed on the ASX with about a $400 million market capitalisation, was said to be mulling its options.
Tietto’s board appears to be in a reasonably strong position, thanks to its share register.
About 45 per cent of the group’s shares owned by long-term high net worth holders, who have been invested since before its IPO in 2018, and the board itself, which means any suitor would likely need a board recommendation to get past the front door.
Tietto shares were at 44¢ on Wednesday. Zhaojin’s buying stretched from about 38¢ to 53¢, according to its substantial shareholder notice.
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Anthony Macdonaldco-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.Connect withAnthonyonTwitter.EmailAnthonyata.macdonald@copyright link
Sarah Thompsonhas co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.EmailSarahatsarah.thompson@copyright link
Kanika Soodis a journalist based in Sydney who writes for the Street Talk column.EmailKanikaatkanika.sood@copyright link.au

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Thankyou for that...... Such actions by influential holders sure do add confidence.

A full on Take Over War --- nothing under $1.20.

TIE Price at posting: 44.5¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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