Hi All,My average buy-in price is about 40 cents for MLX shares....

Hi All,

My average buy-in price is about 40 cents for MLX shares.

I don't see APAC as a friend in this. Their intention is a takeover of a distressed asset.

So its a rock and a hard place for some investors. It's happened before. Oxiana and Zinfex merger in 2008 went pear-shape and Chinese state owned China Minmetals Corp made an opportunistic takeover. They paid peanuts for fantastic assets. The Australian government prevented take over of Prominent Hill which was kept by OZ Minerals - just this assets has proved to be worth billions.

My preferred option is a turn around at Nifty, but APAC will have to move before this happens.

I intend to take up my share entitlement in full plus a few more to lower my buy-in price.

I will oppose any takeover by APAC. I don't want to give away strategic resources (Tin, copper, nickel, cobalt) for peanuts. Renison is already 50% owned by Yunnan Tin Group a Chinese State owned company. Yunnan Tin has commenced negotiations for incorporation into China Minmetals Corp. This sounds familiar ...

We will know APAC intentions if/when they get to 19.9% ownership.

DYOR