Ann: Company Secretary Resignation, page-31

There are a number of reasons why NST dropped $30M - I think it was opportunistic at the time (and I think money better spent elsewhere).

The EAR ground is really chook scratchings as I see it. Without a Jundee or Bronzewing sized-deposit it will be doomed to follow the same path as the previous two owners. Choking just like BLK is.

If NST needed more milling capacity (and it looks like it will), then the obvious choice would be to expand the existing Jundee mill - less capex, less logistics, less people required to run it. It makes far more sense to me strategically.