I don’t think it has any relevance to Renison per se. But it is...

I don’t think it has any relevance to Renison per se. But it is a holding company which owns 82% of YT Parksong which is the Renison 50% JV partner. It owns no other assets from what I can see.

It’s still yet to be confirmed the underlying reason for the 4 fold increase in Greentech over the past couple of months whilst MLX has lost over 50%. The primary reason for it as far as I can see is that the Malaysian/Chinese Billionaire, Mr Koo who is non-executive director increased his position in the company from circa 12% holding to now approx 30%. What his underlying reasons for doing so I don’t know, but he’s put in a notice for an EGM to have the whole existing board removed and replaced with associates of his. He must have the numbers with other share holders to win a vote you would imagine.

The current board is trying to block his actions by issuing 1bn shares to this copper mine target which is probably an associate of the existing board and can vote with them and regain the majority vote. Of course Mr Koo is attempting to stop this transaction. It’s full on war lol.

So the relevance to Renison comes back to - was Mr Koo buying up stock at an equivalent price of A$300m for 50% or renison because he saw an undervalued asset and wanted to gain control for example over YT Parksongs share of the Renison offtake so as to feed Malaysian tin refineries short on concentrate (perhaps sees tin prices going higher and has a commodity trading business) or is he up to something else we don’t know about... it has me completely baffled.