They are an M&A arbitrage shop and disclosed the purchases at somewhere between 7.5c and 8.0c. So they are making money whether Zijin put an offer in above 8c or not.
To get to their 107m shares they scooped up pretty much every share given the total volume of trades since the takeover was announced is <200m.
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 (20min delay)
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Last
7.9¢ |
Change
0.001(1.28%) |
Mkt cap ! $181.0M | |||
| Open | High | Low | Value | Volume |
| 7.9¢ | 8.0¢ | 7.9¢ | $144.1K | 1.815M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 111478 | 7.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.0¢ | 5684387 | 27 |
View Market Depth
| Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
| XAM (ASX) Chart |