SelfWealth Ltd (SWF) up 136%

Taking out second spot on the Bulls N Bears Runner of the Week podium this week is sizzling stock swapping platform Selfwealth which shot up some 136 per cent this week from a close of 11c last week to a high of 26c on Thursday.

The suddenly popular online trading platform known for it’s competitive brokerage and user-friendly interface has received not one but two non-binding takeover offers from competing groups this week.

On Wednesday asx-listed services group Bell Financial tabled a takeover proposal for 22c in cash for Selfwealth, a proposal valuing the company at $51 million to which the Selfwealth board promptly replied, “yes please, take us!”

Not more than a day later the company received its second non-binding indicative proposal for the week, this time at 23c per share from AxiCorp Financial Services.

Axi is a privately owned global online brokerage firm focused on forex trading and contracts for difference. Axi indicated it is serious about the offer and is willing to negotiate and sign a binding implementation deed in an expedited manner.

It seems the impending bidding war for Selfwealth stimulated the market with the share price now trading above the proposed takeover prices and shareholders are left licking their lips in anticipation – the only question now is who’s ready to go again?

Cyclone Metals (CLE) up 84%

Landing in third place this week is Cyclone Metals which captured the attention of the market and the attention of Brazilian mining giant Vale with its Iron Bear magnetite iron ore project in Canada.

The share price is running this Friday on news Cyclone has signed a memorandum of understanding (MoU) with the South American iron ore giant for a strategic partnership over Iron Bear to accelerate its development.

Cyclone hit an intraday high of 3.5c on Friday on news of the substantial partnership, pushing it up more than 84 per cent from its close of 1.9c last Friday.

Vale says it will contribute up to US$18 million (AU$27.83 million) for feasibility studies, drilling and environmental work to earn an initial 30 per cent interest in the project. The company may then opt to launch towards a 75 per cent controlling interest in the project by taking Iron Bear to a decision to mine or spending US$120 million (AU$185.5 million), whichever comes first.

Cyclone is chaired by Perth dealmaker and occasional soccer fan Tony Sage and this isn’t Sage’s first rodeo. Back in 2008 he flogged a magnetite project to the Chinese for some $400m, having spirited it away from its previous owners just 18 months prior for the miserly sum of $20m.

Midway Ltd (MWY) up 66%

And the final Bulls N Bears Runner of the Week is Australian plantation wood fibre exporter Midway Ltd which hit a high of $1.28 on Thursday, representing a 66 per cent gain from its close of 77c last week.

Midway’s share price boost was kicked along by yet another takeover offer for the week, this time in the binding form by Australian fund manager River Capital at an offer price of $1.19 in cash per share.

River Capital manages over $1 billion spread across both listed and unlisted companies.

Midway’s fibre is used in recyclable paper, plastic replacement products and coal replacing energy generation in the Asian region.

And River’s offer is looking the goods too with the Midway board giving it the nod and recommending it to shareholders.

From blockchain to carbon tracking, all the way to deforestation and a bit of mining, this week’s Runners of the Week have come full circle on yet another rollercoaster week for the market. No doubt The Donald will claim responsibility for it all.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au