Hey @lilylouJust saw your question... no, there is nothing to...

Hey @lilylou

Just saw your question... no, there is nothing to worry about here. NWE have been reporting MIN's consolidated holdings in the Top 20, ever since NWE started publishing it again since the TO was launched. The initial update yesterday was wrong which I picked up on before they corrected their manual calcs.

The numbers don't lie. MIN currently have a reported 72.16% holding in NWE as at 6th March. This is only a very small 0.33% increase on their last SSN as at 2nd March of 71.83%. Acceptances look to have slowed down - considerably. I am eagerly watching for any updated SSN tomorrow morning.. usually lodged by early morning b4 9am... if there is none, that means MIN has not increased holdings by 1% for 1 whole week. Not great for MIN any which way you cut it.

So that would mean the TO is dead in the water. And because MIN has declared "best and final offer" they can't do anything but keep extending... but why would MIN keep extending when acceptances have slowed to a dribble? What could possibly get SHs like us to capitulate?

TBH I think MIN were hoping by playing the "B&F offer" card they would push enough fence-sitters to jump and get them to 80%. Seems like us holders are digging in for the long haul

Only way I can see any positive movement to MIN is if their SP shot up to say $120 - $130... so 9c - 10c NWE equivalent. Alas, I can only see SP pressure for MIN in the short term... what with lithium and IO pressures... we shall see. Either way I don't think CE will be happy with this outcome. And I only subscribed to the view that he was gunning for 100%... not to have minority SH's poking his side. Although I am looking forward to that.

I can tell you that I'm going to enjoy this weekend... in the knowledge that we are spudding next week.

Game on.

GLTA