I can only speculate seeing that I have no direct contact with Zijin reps.
Assuming that the sale of Genorah's NKP holding goes across to Zijin then I would expect an immediate rerating of the stock with the anticipation of a takeover bid.
The rerating should be around 12-15c which represents a premium on the Genorah sale price.
We should then see ( in theory) a takeover offer for minorities. Now Zijin is aware that minorities core group hold a large stake and will not accept anything less than 20c. However they may be able to shake some shareholders ( and in particular option holders) at a lower level. So the plan will be either one acceptable offer at 20c plus or a two staged attempt to secure all stock over time.
The threat of an EGM demanding minority representation and an independent valuation if a takeover is lodged will be another factor that Zijin will need to consider. Their recent takeover of ASX companies did not have these blockers to consider.
The above are my views without concrete facts to support my speculation.
One step at a time.
NKP Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
