I've got a feeling this is going to be taken over by PlatSearch (It's largest Shareholder)
They exercised options today to increase their stake to 48.65% of issued capital.
They still have options, which if they exercised would take their stake to a tad under 60% of issued capital.
I'm no expert on takeovers, so unsure on when a company has to make a formal bid (with respect to their % holding in a company) - can anyone help here?
However, with the additional $322k EFE received from the exercised options, they have $3m in cash at bank with a mkt cap of $7m.
They have also said they are going to begin their Hawkwood drilling this month which, on the face of it, has enourmous grades.
In my eyes, it looks like EFE is ripe for the picking from it's largest shareholder.
What does anyone else think?
takeover on the cards??
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Last
0.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $6.209M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 10819626 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 3309736 | 12 |
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| Last trade - 16.12pm 04/07/2024 (20 minute delay) ? |
| EFE (ASX) Chart |
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