A much smaller and obvious takeover target in the Tanami region is ABM Resources. Huge potential in terms of exploration upside, massive landholding with @3 million oz in JORC resources including the Buccaneer project which is primed for further development and production in the not too distant future. ABU also have a JV with IGO (IOCG style discovery that looks promising).
Currently trading at an EV of @$4million, NST could offer a nice premium to shareholders for the whole company (poor management has led to significant downgrade) and pick up the assets for a song. Would barely make a dint in NST's cash pile and the long term value would be significant IMO.
Big buyer disregarded downgrading, page-19
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Last
$15.90 |
Change
0.060(0.38%) |
Mkt cap ! $18.27B | |||
| Open | High | Low | Value | Volume |
| $15.79 | $15.98 | $15.62 | $41.11M | 2.594M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14299 | $15.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.92 | 628 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| NST (ASX) Chart |