Agree with your sentiment. However, if PDN doesn't get its 90% minimum takeup by the 8th October, which seems unlikely, PDN wont have to go through with the offer anyway.
Is this correct? Or have I got my wires crossed? They've got about 60% now, so the've got to get the other 30% this week. If not, a cap raising coming for NGM in the next few months, then more drilling. Personally, for long term holders of NGM, that would deliver more upside in my opinion than PDN shares will in the next year or so.
Just speculating now, I sold my LT holding of NGM about 2 weeks ago, because I didn't really want PDN shares. But if the takeover doesn't go ahead, I will be looking to re-enter. That said, if you did buy NGM now at 8.9c, and the takeover went through, well $2.13 is a pretty cheap price to pick up PDN shares!!!!
Good luck mate, what ever your decision.
Disco.
NGM Price at posting:
8.9¢ Sentiment: None Disclosure: Not Held
