Exactly. WGX already has a deal for the ore. Where is the pathway to an underground mine? Either WGX builds it or...who exactly?
I am sure Passmore would like to exit with 60 million in his pocket. Who wouldn't? His interests are not necessarily consistent with ours.
Top 20 control 56% of shares issued. 18% of that is WGX. No guarantee of him being able to accumulate a blocking stake of 25%.
If its a takeover, you get cold hard cash in your pocket. If you continue to hold, you might get dividends down the track or you might not. There's been absolutely no talk of dividends in their announcements, no matter how many people post rumours about them.
NMG Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
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