Current state of play
Yunnan Tin and Minmetals merging/or have merged. Hard to know exact dates in China. Yunnan tin own 18% of Renison's partners 50% stake in tin mine.
The other 82% of 50% is owned by Greentech of Hong Kong.
The Greenwich shares have been bid up recently leading to speculation that the Minmetals/Yunnan group will make a bid for Greentech to gain 100% of the 50% interest in the Renison Mine.
At current valuations the Hong Kong market values 50% of Renison at around 28 cents Aus per MLX share. I would have a higher valuation but depends on assumptions such as the milling grade increasing etc.
All of great interest and makes MLX awfully cheap at 11 cents.
Will make the shorts nervous given that so much of MLX is in hands that are unlikely to trade at current levels which leaves limited availability of stock.
My guess is that the stock will move up from here unless we get some bad news from the Renison operations.
Current state of playYunnan Tin and Minmetals merging/or have...
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Last
42.0¢ |
Change
0.005(1.20%) |
Mkt cap ! $380.6M | |||
| Open | High | Low | Value | Volume |
| 41.5¢ | 42.5¢ | 40.5¢ | $591.9K | 1.424M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 246 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 225200 | 7 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MLX (ASX) Chart |