With the information so far, no one can really make much of a judgement about the offer itself.
Interesting things of note: MetalsX has confirmed that they've made an offer and are 'negotiating'. Seems to be a disclosure gap from GLN somewhere there - even if they don't like the offer they should be informing shareholders.
The other thing is that within 5 minutes of that AFR article coming out 11,701,392 shares were bought and at about the 15 minute mark 18.9m had changed hands. On a day when the market was a sea of red it's unlikely that the buying was coming from a multitude of directions IMO.
Interesting to see how this pans out. MetalsX doesn't think it's over, even if JP showing them the hand.
With the information so far, no one can really make much of a...
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Last
12.0¢ |
Change
0.010(9.09%) |
Mkt cap ! $60.80M | |||
| Open | High | Low | Value | Volume |
| 11.0¢ | 12.5¢ | 11.0¢ | $518.0K | 4.475M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.5¢ | 1573785 | 9 |
View Market Depth
| Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
| GLN (ASX) Chart |