I guess there might be a capital raise. Kin Delphi will be...

I guess there might be a capital raise. Kin Delphi will be diluted but it won't matter as I understand the rules.

As far as takeover goes I presume a next move will happen after Hoover House merger goes ahead, if it does go ahead, and after 4 months have elapsed. I own DCN as a bet they will try to get the remaining 20% for cash. They got 80% of DCN without having to pay any cash, so even another $100 million would be a cheap mill with extra ounces thrown in for free. Sure the board can offer Hoover a milling deal but DCN will have to process their own ore as a priority and GMD would be left collecting dividends if that ever happens. So I think an offer is what will happen.

I have no special insights though. It might be a while before Hoover House is in a position to make a cash offer that would move the dial for the remaining shareholders.