IMO They will keep on extending to try and keep their flipper friends happy. They need the 80% to avoid paying Cap Gains tax.
The 80% threshold is a big motivator. Ive been saying this all along. The big bargaining chip we have is this 80% threshold. Some folks will be livid at the notion of having to pay extra tax to a labour govt. DYOR everyone. Not tax advice, Not a doctor.
If the remaining holders hold out, my opinion is we will see a pay day that will far eclipse what you will get from min. NWE still has a better leverage to the asset. The key thing will be at what point to fold in future. For me, only after the FOUR wells and the 3D seismic are done will i now consider any offer. Mark my words, I strongly believe that in addition to the gas, there will be an oil story here too. And PB oil is light and sweet as. You could fill your lambos with it. DYOR. not advice.
As for fun and games with SP? The rats are experts at it and experts at not getting caught. My beilef is the arbitrage is there to entice people to fold.
@greenleaf thx for the heads up. The CEO is now controlled by the major SH and the Corp Law and ASX rules. He needs to be clean in relation to minority holders and full disclosure. There will be eyes on him. My guess is they may be wanting to be put out of their "misery" and are waiting for MIN to send them on their way.
The $ NWE has to pay is to the share registry. So for every acceptance, the registry charges a certain amount of money to process it. Thats why it is a sliding scale. Registries make a killing in t/o situations. idk if NWE would have been up for this cost if the bored rejected the offer. The bored should have explained the details around the cost. But again they have been apalling in their disclosure obligations.
NWE Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
