re: Ann: NGF: Takeover Offer for Kalgoorlie M... Nice thought sa, if EXG is near Norton and KMC, this would make a nice acquisition, and benefit KMC/Norton. EXG have pulled their pre-feasibility so it would seem that they are already inclined to accept the offer (from whoever it is). And Norton have paid off their debt and still have a bundle of cash, they have lowered costs, upped production, and seem to be on the rise.
KMC will not get any other offer, so I give in now, Norton can have the stock for a steal, better than seeing it go under I suppose. It looks like the directors want out, and most of them will not make a profit, so without actually stating it explicity, they are probably intimating to shareholders that the writing is on the wall. Take what you can get. This will be a sweeter "long term" prospect/deal if EXG is also taken over by Norton.
Either way, it is time to capitulate and sell now, you gotta know when you are beaten (for now).
Time to sell, and wish Norton all the best. KMC and EXG might just add some liquidity to Norton. Xijin seem to be smart operators (now that I have done some more research on them). And while I have never been in favour of Chinese takeovers of Aussie companies, I suppose there are times when this is beneficial for all concerned. It is not Xijin's fault that KMC became the failure it did, it is the former KMC management and directors, Xijin have just seen an opportunity, and like all of us, will grab a bargain when they see one.
Gw
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