I agree with you Cirat. I am assuming NEN can still go about their business even though this bid process is happening. My only problem is NEN acting hastily towards securing new projects and actually not adding value. Pick the wrong project or partner in the markets eye and the price may drop even further making the takeover bid a certainty.
On the other hand (and I am not sure what NEN can do at this point) maybe they should be buying into new projects/partners and using some of their money with a view to spending more on them in the future. Maybe Evoworld would be less enthusiastic with less money in the NEN bank and having to actually manage a portfolio of assets. Who knows, they may be the best thing that has happened to NEN but I want to see a plan or strategy going forward (if they have one).
Either way it is all a risk. I guess I am only after someone or something that can add value, I don't care who or how! I purchased/averaged in the 20's but have since bought at 2.5 cents so my average is a lot lower than it once was. I would feel a lot more comfortable with a price between 5-10 cents, if it ever gets there is another question. I imagine the day traders who purchased low are the sellers at the moment and I assume there are plenty of them.
We need an announcement soon - today for example!
NEN Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
