Yes Garant I have stated twice requirement of shareholder's approval - however one must be wary of on market accumulation via disguise of a number of funds. RIO go to max 19.9% - Sprott at 10.19% and board memeber totals = 7.5% - total around 32.7%. Another 17.5% needed to pass any potential takeover which currently is in retail share holders so all bodes well for now.
Putting a number on potential SVM takeover is not appropriate at this stage. @ a buck sixty you're talking over 800 million aud market cap - RIO on top of next 4.99% top up would be needing another 672 million aud to take the remaining 80.1% - sounds a bit rich at this stage - best wait for PFS and other progress - graphite qualification - permitting - etc and expect the SP to move higher on those key milestones - then assess any potential RIO takeover price as I anticipate management will see it. I believe RIO would have done due diligence and wanted the lot but management held them off - knowing the likes of RIO engage with minnows for sole purpose of takeover of quality asset. Well played by management whom will now use the large cash to deliver a great outcome. Beware the penny traders in the coming months that will stymie SP growth as they come and go - as already seen since RIO ann.
SVM Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
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