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Metals X Limited ( (AU:MLX) ) just unveiled an announcement.
Metals X Limited has announced a voluntary cash partial offer to acquire up to 382,480,000 shares of Greentech Technology International Limited, representing 28% of Greentech’s issued share capital, at a price of HK$0.35 per share. This strategic move aims to strengthen Metals X’s position in the market, as Greentech holds a 50% interest in the Bluestone Mines Tasmania Joint Venture, indirectly linking the two companies. The offer document has been released on the Hong Kong Stock Exchange, and a press conference will be held to discuss the details, indicating the company’s proactive approach to expanding its influence and operations.
The most recent analyst rating on (AU:MLX) stock is a Hold with a A$0.43 price target. To see the full list of analyst forecasts on Metals X Limited stock, see the AU:MLX Stock Forecast page.
More about Metals X Limited
Metals X Limited is an Australian company primarily engaged in the mining industry, with a significant focus on tin production. Its principal asset is a 50% interest in the Bluestone Mines Tasmania Joint Venture, which operates the Renison Tin Mine in Tasmania. The company is listed on the Australian Securities Exchange under the code MLX.
Average Trading Volume: 4,412,198
Technical Sentiment Signal: Buy
Current Market Cap: A$483.1M
For a thorough assessment of MLX stock, go to TipRanks’ Stock Analysis page.