Not full take over, partial take-over say a major buys 15-20%. Similarly for JV. Either put a foot on the asset and just keep increasing with the drilling spend.
I don't think XAM will have control of it's take-over price.
I suspect AS and the board have made a fundamental error.
Big ore-bodies like this one's need a major to efficiently fund drill out e.g. the CZI model. Say CZI retain 30% to get get to DFS.
Otherwise you just keep getting dilution. I've seen it often enough to prove the rule told me by my lecturers. HCH is an example.
IMVHO.
Not full take over, partial take-over say a major buys 15-20%....
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Last
5.5¢ |
Change
-0.001(1.79%) |
Mkt cap ! $94.38M | |||
| Open | High | Low | Value | Volume |
| 5.7¢ | 5.8¢ | 5.5¢ | $87.01K | 1.555M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 3769725 | 5.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.6¢ | 84855 | 2 |
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| Last trade - 16.10pm 05/08/2024 (20 minute delay) ? |
| XAM (ASX) Chart |