The price of SPX going up the last few days was caused in the main by CHN buying 20 million more SPX on market, taking them to a 7% net partner. Why did CHN buy more if they knew a court case was on its way ? If SPX and CHN were blindsided by VMC claim ( hard to imagine) then CHN have $30 mil cash in the bank ( minus working capital) no debt and great amount of drilling ahead. Interesting to think - did CHN have in mind to take over SPX on its original buy in- and now, better still, it might look at buying some or all VMC.
What I have seen in the past with court cases pending, is share prices are hammered, This could happen to both SPX and VMC (hope not). Lovely to think CHN could have some positive expectations in all this. Mind you its way past bedtime and I am rambling on.
SPX and partner CHN
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Last
1.1¢ |
Change
0.001(10.0%) |
Mkt cap ! $50.63M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.0¢ | $3.664K | 345.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 4458789 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 1790962 | 7 |
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| Last trade - 15.44pm 27/09/2024 (20 minute delay) ? |
| SPX (ASX) Chart |