Metals X Limited Proceeds with Partial Offer for Greentech Shares

Metals X Limited ( (AU:MLX) ) has issued an announcement.

Metals X Limited has announced its intention to make a pre-conditional voluntary cash partial offer to acquire up to 28% of Greentech Technology International Limited’s shares, which are not already owned by Metals X or its concert parties. Despite previous attempts to engage with Greentech, Metals X has decided to proceed with the offer due to Greentech’s lack of response to pre-conditions. This move could potentially strengthen Metals X’s position in the market by increasing its stake in Greentech, which indirectly holds a 50% interest in the Bluestone Mines Tasmania Joint Venture.

The most recent analyst rating on (AU:MLX) stock is a Hold with a A$0.48 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 on Tasmania’s West Coast.

Average Trading Volume: 5,161,142

Technical Sentiment Signal: Buy

Current Market Cap: A$452.1M

See more insights into MLX stock on TipRanks’ Stock Analysis page.