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Insider bought shares as Galan Lithium rejected a takeover offer, yet its stock surged over 50%.
Insider Dianmin Chen bought 328,843 shares of Global Lithium Resources Limited at A$0.20 each.
Meanwhile, Galan Lithium rejected a takeover offer of about 30 cents per share from Zhejiang Huayou Cobalt Co, calling it low and undervalued.
Despite the offer, Galan's shares surged over 50%, reaching 16 cents each.
The company believes its Hombre Muerto West project will provide a better outcome for shareholders.
6 Articles
Insider compró acciones ya que Galan Lithium rechazó una oferta de adquisición, pero sus acciones aumentaron más del 50%.