With at least three quality assets in its portfolio and a market capitalization of only $155mil and a wide-open share register, you would have to think that this is a good takeover candidate for the right suitor.
Just looking at the current share register, there are four substantial shareholders:
Mitsubishi UFJ Financial Group Inc 8.93%(61.5mil shares)
Apac Resources Ltd(HK) 8.77%(60.4mil shares)
IOOF Holdings Ltd(Perennial Value Funds)8.75%(60.3mil shares)
Jinchuan Group Ltd(China)7.22%(49.75mil shares)
So those four account for 33.67% of the issued shares. The only possible takeover candidate amongst those would be Apac Resources - it is only a small investment for them at the moment worth $13.6mil. They also own 33.2% of Mt Gibson(MGX) worth $465mil and 7% of Westgold(WGX) worth $45mil. Apac has in the last month raised $80mil in a rights issue and taken out a new borrowing of $45mil for their war chest without further explanation. Maybe they think they can pick up MLX cheaply for 45c/share that would cost them an additional $285mil.
Takeover Candidate
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Last
41.5¢ |
Change
-0.010(2.35%) |
Mkt cap ! $376.0M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 43.5¢ | 41.5¢ | $449.2K | 1.059M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 252303 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.0¢ | 28991 | 1 |
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| Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
| MLX (ASX) Chart |