Takeover Target?

I total agree with Rocket analysis. Current low valuation would put OMH as attractive takeover target for companies who want to diversify into low operating cost business with high return. OMH currently trading at 3x PE based on FY 2018. I don't think there is that many normal traded stocks with such low PE. Given its low liquidity, it can be easily "manipulated" to drive down the price in order for the buyers to make offer (25-50% premium) and still get it cheap. I believe many existing small sellers would be happy to sellout by then. As the market cap is now only $500m+, this is within the reach of many manganese / commodity players.
I also noted that the drop from $1.20 to $0.80 only takes less than 3million shares, that is a drop of close to $300m market cap wipeout. Although company has been listed for close to 20 years on ASX, if we consider trading volume of less than 1million as illiquidity, then I believe the company is 90-95% illiquid since listing on ASX. To me, it's very clear that they should seriously consider a secondary listing in an Asian market that will give them analyst/news coverage and has confidence in Asian management. It is quite unbelievable that given the company's profitability of >$100-160m and being on ASX 300 index, there is not single fund house buying into OMH and zero coverage.
Maybe it's time for the management to seriously consider a secondary listing, which will only benefit OMH.