one has to remember that the company wouldn't want cash reserves to dip below $500 in this environment, meaning any acquisition will need to be funded either through debt or equity.
in terms martabe in early january analysts were talking around $325 million as a possible starting price, meaning NCM would certainly need to raise money to fund the acquisition.
I highly doubt NCM would make a play for either LGL or SGX in this environment of surging gold prices, the premium they would have to pay could not be justified.
NCM Price at posting:
$31.00 Sentiment: None Disclosure: Not Held