Speculation is mounting that CBH Resources Ltd
(ASX:CBH) could be negotiating a takeover of the company.
The company releases a statement yesterday in response to an ASX price enquiry, saying that it is in confidential discussions with a number of separate parties with respect to transactions which are focused on generating shareholder value.
The ASX issued a speeding ticket to the company yesterday after its shares went from 9.9 cents on January 4 to a high of 13 cents yesterday.
CBH says the discussions are incomplete and put its share price movement down to a more positive outlook in the market for base metals and a re-rating of CBH following significant recent increases in peer company share prices.
CBH Resources posted a loss of $96.63 million for the year to June 30, 2009.
