NST are smart to do this. The placement was 22c and they took the stock off the instos at 29c. Nice trade for both parties. That would probably be the only way they could get a decent holding as stepping into the market would have seen a run away share price. I think NST will go to 19.9% and when the timing is right, they will bid for it. Once the plant is refurnished, its basically worth the market cap on its own, so the entire resource and exploration upside is a free kick. If i was NST, i would pounce on this asap. They already know the numbers and its cheap.
The market now has a clear path to follow with this taking place, but they still wont work it out until its too late. NST will probably trade around here until the bid comes and then everyone will moan and complain about the bid being too low. If you think its coming, you buy it and hold. dyor
EAR Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
