"For MIN to get effective control, it needs to get to 75% and be...

"For MIN to get effective control, it needs to get to 75% and be able to delist or 90% and do a compulsory acquisition."

Sorry, but what a load of rubbish.
MIN have effective control now - at 42% IMO.
At 50% they definitely have control.
Delisting doesn't give them control - having 50%+ of the shares does.

What difference is there between 50% and 75% for MIN having control?
NONE!

At 75%, MIN can think about delisting NWE.
HOWEVER, there has to be less than 150 shareholders with $500 worth of shares.
There were 6,700 shareholders at the AGM.
I believe it is extremely unlikely there will not be more than 150 shareholders just from reading HC.