So it almost definitely looks like it's Northern Star. The...

So it almost definitely looks like it's Northern Star.

The Australian newspaper is rarely wrong with their reporting on these potential takeovers.

The questions are, will it be for cash or scrip, and at what price?

I expect that EAR and NST are having some in-depth discussions about how to value EAR at present, and what premium might be applied for a takeover.

Let's say that NST commence with an opening bid of 50% to the current stock price, which means they may have come in with an initial bid of about 37 cents.

How much value is placed on a 2mtpa mill in the current environment?

I would think EAR may suggest 50 cents to NST as a starting position.

So let's say they both stumble into somewhere between 42 and 45 cents and give each other a week to think about things.

I think a 45 cent offer would succeed at a shareholder vote, even though there might still be a considerable chunk of votes against, maybe something like 15%.

I'd personally be disappointed if it was anything less than 40 cents, which I'd set as a minimum price.

But then again, what do I know?

"You know nothing Jon Snow" (Quote from Game of Thrones).

Gw