Metals X Likely to Raise Offer for Renison Mine Stake -- Market Talk

Dow Jones
01/29

2207 GMT - Metals X's growing cash pile leads Ord Minnett to speculate that it could make an improved offer for Greentech Technology International's 41% stake in the Renison tin mine. Metals X had a cash balance of A$294 million at end-December. Analyst Matthew Hope says a deal for Greentech's stake would almost double its free cash flow and give it majority ownership of the mine. "Metals X's last 'low-ball' offer priced the mine stake at A$96 million," Ord Minnett says. That compares to Ord Minnett's valuation of A$313 million. "We expect Metals X will offer a higher price, and with Greentech at risk of being delisted from the Hong Kong stock exchange by March after being suspended for 18 months, we see an increased incentive for retail investors to accept a bid," it says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

January 28, 2026 17:07 ET (22:07 GMT)

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