I believe so and I think it is also a combination of the market not taking the Trans Metal Fund LP bid seriously. The market may question whether Trans Metal Fund LP has the financial capability to execute the deal.
On the face of it, if you google Trans Metal Fund LP, you will not even find a website. Investors would rightly question the veracity of the bid.
However, once you dig deeper, you discover that it is merely a vehicle setup by lawyers to permit their client to remain anonymous during the bidding process.
Zijin Mining is a big name in the gold mining scene and it is partly owned by the Chinese government. They have immensely deep pockets and if their name was disclosed to the market as the bidder, it would cause the share price to appreciate in addition to generate strong interest from other bidders. In addition, from their point of view, MTC might play hardball on their offer. Zijin Mining placing a bid qualifies Sturec as an excellent project.
Some recent acquisitions by Zijin Mining include:
- Acquisition of Continental Gold for $1.3bn (Canadian dollars)
- Acquisition of Nevsun for $1.86bn (Canadian dollars)
I believe so and I think it is also a combination of the market...
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Last
24.5¢ |
Change
0.005(2.08%) |
Mkt cap ! $46.29M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 25.5¢ | 23.5¢ | $213.3K | 871.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 37370 | 24.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 31617 | 2 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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Last
25.0¢ |
Change
0.005 ( 5.66 %) |
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| Open | High | Low | Volume | ||
| 25.0¢ | 25.5¢ | 23.5¢ | 328534 | ||
| Last updated 15.51pm 06/05/2024 ? | |||||
| MTC (ASX) Chart |