Lots to speculate over the weekend but here's my take on the scenario. TG needed cash recently to buy a prestigious house and had a dilemma. Sell some CHN or LTR shares. I think he chose CHN because the LTR project is well advanced and funded till production and thus a no brainer to hold. Julimar on the other hand has a long lead time to get to production with hurdles to overcome. The delay in getting the SS out did not help in that regard. Now the question is, does TG want to hold onto the remaining 8.8 % . He is now retired and as they say, you can't take it with you, so why not enjoy the fruits of your hard work.
The question is, is he wanting to sell the remaining stake and if so at what price. So the talk of some sort of takeover is a bit premature I think. From my maths the institutions are holding onto more than 40% at the moment and I have no idea what their average buy in prices are but I am sure it is above the current share price.
CHN chart, page-4221
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Last
$1.42 |
Change
0.045(3.27%) |
Mkt cap ! $552.3M | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.47 | $1.38 | $3.755M | 2.633M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20000 | $1.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 92785 | 9 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| CHN (ASX) Chart |