IMHO any low-ball bid would be considered opportunistic and have no chance of success. HAV’s current share price is not a reflection of its fair value and is the outcome of very thin trading.
Glencore could take its holding to 19.9% (undiluted) by buying c. 26m HAV shares on-market and/or from other major shareholders #. That should force up the SP. Given HAV’s resources and appreciating Cu/Au/Co prices, to be taken seriously, any ensuing TO bid would need a minimum A$3ps handle, possibly/ probably more.
Putting that in perspective, in 2013 Warwick Grigor, former chairman of brokerage Canaccord Australia, claimed HAV was worth more than A$1bn ## (= A$5.25ps diluted) based on its discoveries. Since then there has been a material Resource upgrade (+80% increase in Cu tonnes; +60% increase in Au oz) on the Kalkaroo Cu-Au Project alone.
DYOR
# Top 20 owned 59.5% (pre-dilution) per 2016 Annual Report.
## Source: http://www.globalminingobserver.com/havilah-resources-127
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Last
17.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $55.41M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 23142 | 17.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.0¢ | 42105 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 23142 | 0.175 |
4 | 121220 | 0.170 |
2 | 120000 | 0.155 |
2 | 28400 | 0.150 |
1 | 35000 | 0.145 |
Price($) | Vol. | No. |
---|---|---|
0.180 | 42105 | 1 |
0.185 | 18970 | 2 |
0.190 | 58211 | 3 |
0.195 | 120000 | 2 |
0.200 | 38035 | 1 |
Last trade - 16.12pm 23/08/2024 (20 minute delay) ? |
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