I have mentioned that MIN may not want require NWE.
MIN owns, as you said, 84% of ep368 and and approx 82% of ep426.
For MIN to acquire their share of these blocks it cost them approx 16 million and their 20% of NWE cost approx 19 million.
With the work done to date it has cost MIN less than $60 million.
Now you need to ask yourself is MIN going to spend $600 million or so to T\O NWE for an extra 16-18% ?
Do they (MIN) spend 10 times their current spend to T\O and make 10 times on $600 million?
All figures rough as guts, but you get the idea.
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Ann: Change in substantial holding from MIN, page-290
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