Agreed tho I think they might go both in ST. If they raise 15% of issued capital that would be more than $400m I think? No idea how much EME would cost them (dont know enough about that except their market cap is $112m) but they did say M+A opportunities (plural) in their press release.
NGM wouldn't cost them that much as market cap is below $30m. Maybe they'll make a play for EME this week and NGM next week? :) Plus there are more reasons to think a move could be imminent as mentioned in my previous post...
NGM SP up 5.5% today but there are a few large sell roadblocks ahead. And FWIW, market seems more confident that BMN could be a PDN target due to closeness in Namibia.
NGM Price at posting:
19.0¢ Sentiment: ST Buy Disclosure: Held
