NST also have a 15% cornerstone holding in YRL (Yandal Resources), so one could think there is a provincial play there stitching up various assets in the region, hence the suspicion NST may be increasing their stake to hold a majority in EAR as the first step.
Other schools of thought:
- HMX will need to fund six times their market cap to achieve a change of control in EAR (without a control premium) - say no more!
- rumours about the NST superpit purchase - maybe someone has offered them a nice exit price on their EAR stock that they can put into another investment/asset - they have a large pile of cash but maybe they need a mountain of cash for what they want to do.
- Red 5's failed attempt at unlisted public company Bullseye Mining - at the time Bullseye had backers with funding - could Bullseye be making a consolidation play in the Yandal? NST still has a blocking stake, hence maybe why a change of control is muted rather than takeover. In this scenario, mill is a go with plenty of ore.
All tin foil hat stuff - DYOR. Full disclosure, I also hold NST and YRL.
