I thought I would let people know about this stock. Crosby, a Hong Kong based co. has made a takeover offer for 64c. Current price is around 75c. The offer was due to expire on 15th Aug 05, but has been extended by 1 month.
Valuations of TYC have it around $4-5 and the takeover offer is widely considered opportunistic. Company announcements since the offer was made, have been excellent and their exploration in Pakistan has shown enormous copper reserves. Possibly the market is a little frightened of the idea of mining in Pakistan and perhaps that is the reason the share price is not higher. At least that is the only reason I can think of. But it's only a matter of time before more people see the value in this, in my opinion. Safe to say whatever happens from here, the reserves will definitely be a huge future supply of copper worldwide.
There is a 90% chance a more realistic second offer will be made before the 15th of Sept 05, the new expiry date.
If anyone has any thoughts on this takeover, I'd like to hear their views.