when a 2nd bid from Chifeng is announced the opportunity is gone overnight... It's all over after one announcement Chifeng can easily afford a cash bid. Chifeng is BIG, so a +70c takeover is chicken feed for them as it's like only US$ 100 million and they are a $10 billion dollar company who make $200 million takeovers for breakfast. They already paid 40c for there 10% shareholding in MTC, never forget that...they are already biggest shareholder outside directors.
They didnt sold one single share. Chifeng reported on 05 June 2024 they are holding 15.7M shares in MTC
MTC Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
