"MCT has recently obtained a 51% controlling interest in the...

"MCT has recently obtained a 51% controlling interest in the Kookynie and Yundamindra Gold Projects through the Joint Venture Agreement. Should the Offer not succeed, NME shareholders will be invested in a company that:

(a) has a minority interest in the Kookynie and Yundamindra Gold Projects, and will likely be diluted further if NME cannot co-contribute with MCT;
(b) will compete for capital with MCT (which has a superior investment proposition); and
(c) has significant unpaid debts and related party loans."

"NME reported a negative net asset position of $1.46million in its 31 December 2020 accounts, with Total Payables and Debt of approximately $3.4million, which included loans and payables to Directors of $2.44 million and payables exceeding normal trading terms of $352,943.

In contrast, MCT reported a positive net asset position of $6.08 million in its 31 December 2020 accounts and has subsequently raised $3 million."


You're lucky to even receive an offer.