Yes 19% bought at a MC of $150m. That's how high they value the BZW plant. Current price sub $60m now. A cash bid of a 50% premium is only $85mill offer less 19% is only $68mill out of pocket for them. Then sit on the plant until they give the green light to pump the $40mill to get it firing again.
Alternatively a scrip deal for 20c p/share then only out of pocket $40mill to go mining. Chump change for NST.
EAR bod's silence surrounding direction could mean they want the T/O done.
EAR Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
