I still cant see any reason for the rise and plateau from Nov 2018 til now (about x3 ).
A suggested reason is Koo creeping up the share register, triggering board takeover in November. Volume has been reasonably high about 20M shares average (~$1M/day) the last month since those +100M spikes in pic below. at around 0.17. The rise trying to acquire shares to tip voting rights towards Koo? The board counted by trying issue more shares to a friendly company (shell maybe)?
The disparity in valuation between Greentech (indirect 40% Renison, $250M MC) and MetalX (50% Renison, $80M MC) is stark. CashMO has pointed out see through value to MLX about $300M (or 30c/share). Someone is crazy, is MLX part of this with share price pushed down to weaken asset outlook... ok conspiracy theory friday (APAC and Greentech both HK based for instance)
Anyway it may become clear. Hopefully some up pressure on MLX.
(even given the anchor of Nifty, a major step has been taken to release)
MLX Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
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(APAC and Greentech both HK based for instance)
(20min delay)