I think this may put MCT in a difficult position.They will want...

I think this may put MCT in a difficult position.

They will want to carry out further exploration. If the results are good then NME will probably raise money in the next round.....so they get diluted in the current round but probably don't care - the cash has to be spent by MCT. When/If there's good results they can avoid further dilution.

MCT can't really buy shares in the market.....otherwise they'll drive the price up. They could make a bid for the remaining shares.....but that would probably have to be at a considerable premium to the previous bid....upsetting shareholders who accepted the lower offer......

And I can't see NME going bust.....the directors seem to be taking some or all of their pay as unsecured debt rather than cash. Given they've got circa 49% of a good asset.....they're likely to make sure they keep afloat!

Please let me know if I've got anything wrong here.....I'm just trying to join up a few dots.....I hold both shares and really like the asset.

I think it would be better off under one umbrella....but can't see that happening anytime soon given the above.