RCF I'd say. They own near 50% don't they? If it is near 50% ownership, is it in RCF's best interest to see the price rise now that efficiencies are being realised? ..especially to ensure the price is not low-balled when an offer does come in.
OR
Would they keep driving the price down to acquire the company themselves?
Ann: Increased 2016 sale volumes to major leucoxene customer-MZI.AX, page-11
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