Stock Track | Metals X Soars 5.34% Intraday on Speculation of Improved Renison Mine Stake Offer
Stock Track
Jan 29
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.