METALS X LTD's stock price soared 5.34% during Thursday's intraday trading session.

The surge follows analyst speculation that the company is likely to make an improved offer to acquire Greentech Technology International's 41% stake in the Renison tin mine. Analyst Matthew Hope from Ord Minnett notes that such a deal would almost double Metals X's free cash flow and give it majority ownership of the mine.

With Greentech at risk of being delisted from the Hong Kong stock exchange, there is an increased incentive for its retail investors to accept a bid, making the potential acquisition more likely to proceed.