@jctroutNot so fast , keep your chin up.
Like Ive said before, MIN will have made all sorts of arrangements (eg. individual off market option agreements etc), to put themselves in a position where they can get early movers selling into any takeover offer they make. So they would have had some ducks in a row (except the board, maybe) before announcing on the 16th Dec. And they could be actioning these option deals in dribs and drabs.
The fact they're chasing hard to get the 100,000-1,000,000 share owners over the line, tells you they don't have the numbers they need. Stay strong. There's a long way to go.
The problem for MIN is that even getting to 50% and seeking to change the board, the new directors still have to honour the terms of the JV agreement. They have statutory obligations to NWE shareholders, and minority shareholders. And whilst there may be room for weasel tactics, there is a limit and no one will want to be smeared with mud.
The time the JV agreement is set aside is when MIN do compulsory acquisition - i.e. at 90%. Given the 1:1 voting rights in the JV agreement, this is MINs end goal - that's why they're paying money to ring everyone and find out what MIN needs to do to get 90%.
That will take time, particularly if there are enough SH that hold out. In that time, new information will come to hand...drills, seismic etc...and when that happens, you need to have independent valuations.
