UNDER THE RADAR/TRADE TODAY - Copper Strike (ASX:CSE). Syrah Resources (ASX:SYR) went into trading halt yesterday after trading up 28% to $5.49. The Australian Financial Review reported that Glencore is understood to have made an informal approach to Syrah Resources that could value the graphite and vanadium junior to $2B.. One that slipped under the radar though was Copper Strike (ASX:CSE), Copper Strike holds 11 million Syrah shares, and based on a last traded price of $5.50 - the stake is worth close to $61 million. Further share price success for Syrah Resources will have a consequential flow-on effect on the Copper Strike share price. CSE last traded at 0.39.
Interesting - Copper Strike market cap. at close yesterday was $41.6 million.
CSE market cap at close yesterday was $41.6million - 30% discount to implied value of the SYR position. Interesting note Matt