nhc takeover of dart - increased stake, page-3

Consider Cuadrilla's project in the Bowland is valued at ~980m AUD.

NHC could purchase DTE for 2-300m IMO and spend 200m more on exploration and still have 5-600m up its sleeve in value.

That's a steep discount on the amount of value 200m in exploration would create for NHC.

This is an encouraging development even if a direct TO by NHC doesn't eventuate.

Looking forward to the confirmation of the chinese & Indian transactions = +20m in the bank.

We should be due a JV announcement anytime now.