Ann: NQM Board Consider CQT Offer to be Inadequat, page-3

re: Ann: NQM Board Consider CQT Offer to be I... Rather thankful that the independent directors have responded in the way they have regarding the takeover.
This takeover is nothing more than an opportunistic attempt to take over a company that in my opinion should be worth a lot than what Cqt offer.
First the negative as of Cqt.
They are still an exploration company with negative cash flow and a long way to go in terms of raising capital and time before they can even think about producing one ounce of gold.
At this point in time cash flow is king and I would chose a company with strong cash flow compare to another that have negative cash flow any time. There will come a time when the amount of resource will be more highly value than cash flow but that time has not yet arrived.
I would consider Cqts offer of 41 mil for Nqm as an insult to the shareholders of Nqm as 41 mil is not even enough to built a mine let alone produce any gold.

Then consider the cash flow of Nqm at a gold price of Aud$1500 which would give an operating margin of near 20 mil a year ; I really wonder why would any director want to throw the whole company away for just 41 million.

Then there is the prospect of increasing gold production from twin hill which will add value to the Nqm.

In conclusion I am not amused by the fact that Don Walker (one of the director) has entered into any agreement with Cqt. In so doing he is not showing faith toward the company or management in their execution of the Nqm plan or perhaps he does not have confidence in the gold price. He is wasting managements time and money with this unsolicited offer. You can be certain that if this takeover is unsuccessful I will vote no to Don Walkers reappointment as director when the time comes.