Are the 18.08 shares offered for MTH 1000 shares post consolidation of NRG shares 20:1?
If so then pricing is on par.
Reed flags are that NRG owns two properties in Ontario that have languished.
They have no money other than a promise from an "investor" for CAD$3M (AUD$3.3M)
What will they do with that money?
Its enough for a CAPEX for a back of the truck gold 2 man mining operation...
More drilling in the Ontario properties using Skeet and others brains/ network perhaps.
What has MTH have to lose?
Also its a "non binding" agreement, with months of due diligence
I am doubtful whether MTH shareholders will agree
This might just be a stunt by NRG to rally their shares (which has happened already) from a multi-year low of 1 cent, fallen from a high of $1 - 5 years ago
Smells wrong, very wrong
MTH have good central Mexican assets, they do not need NRG and if they wanted to do something together they could JV the Ontario mine.
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