Having spoken with directors, and them being limited by what...

Having spoken with directors, and them being limited by what they can say, we can only read between the lines.

The impression that I came away with though, is that NST are completely occupied with Pogo, and will not mount a takeover bid in the foreseeable future, and probably not before the mine is back up and running, which to me says 18 to 24 months.

I think NST are currently happy for EAR to go ahead and arrange finance for the mine (with the oversight of the current NST director on the EAR board). They are happy for current EAR shareholders (including themselves) to fund the development.

I got the impression that NST have a ton of cash, and they are not concerned about the EAR share price, they can always offer scrip, and not much of it if their share price keeps climbing. I'd prefer cash.

I calculate NST have an average EAR price of about 25 cents.

If I had to hazard a (very) wild guess now at an eventual takeover price, I'd say about 45 cents, or the equivalent NST shares. It won't be a great profit if you are a small shareholder, but if you invest $200,000 then you might (should) double your money.

As for the share price, my bet is that we will get a little bit of a burst upwards this coming week, and then rationalise back to 18c-19c, but I've been very wrong before (too often for my liking).

Now why couldn't they have just sold me more of those capital raising shares at 10.5c - not fair.

Gw