My guess is that MEI is selling its 49% interest in CHN's Warego North, here's why:
- CHN has $34m cash;
- CHN is currently drilling Warego North (https://www.asx.com.au/asxpdf/20180716/pdf/43wjqnrcc1sgpq.pdf);
- CHN might want to get MEI's interest before results are announced;
- Andrew Tunks and Alex Dorsch (who is the new Managing Director of CHN as of 13 November 2018) were at the same place same time earlier this year (as per below);
- There is some mutual-mutual friends between Tunks and Alex Dorsch and other CHN board members.
This is a completely speculative guess and there is no real evidence to support it - it just comes to mind.
Looking forward to see what is announced.
Ann: Trading Halt, page-8
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Last
9.3¢ |
Change
-0.002(2.11%) |
Mkt cap ! $222.2M | |||
| Open | High | Low | Value | Volume |
| 9.7¢ | 9.7¢ | 9.1¢ | $273.2K | 2.925M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 210828 | 9.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.3¢ | 48518 | 7 |
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| Last trade - 15.17pm 27/11/2024 (20 minute delay) ? |
| MEI (ASX) Chart |
