The reason for the TH was stated clearly in the ASX report - a material acquisition.
Logic would dictate that a "material acquisition" was NOT some moose pasture out in the sticks or a grass roots exploration play.
Similarly, for a company of MAT's market cap, the acquisition would have to be for more than tuppence hay-penny to be "material"
Hopefully this will be a potential company making deal in the gold or lithium space.
In fact, personally I'd prefer gold, as I think this lithium game is getting a bit ridiculous.
However, as usual, not a word of this was leaked; although I am convinced someone has been accumulating this stock for about a month now.
If my assumptions are correct, and the deal is transformative, MAT should take off like a scolded cat.
Here's hoping
MAT Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
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