ex-Yank, FYI I recently posted this on the NQM thread:Looks like...

ex-Yank, FYI I recently posted this on the NQM thread:

Looks like an act of desparation. If HSK accepts at 65% then

the rationale for consolidation of Pajingo falls away as the independent shareholders of NQM (mostly CQT) will not allow NQM to sell its interest to HSK, and

HSK won't get access to NQM's cash, meaning HSK will have to issue more shares to pay its debt.

I would expect CQT to go back to the Panel to get the directors of NQM to amend their recommendations of the HSK bid around consolidation of Pajingo (as this will now not occur), and also to correct the statement in HSK's announcement that its offer is the only one that can consolidate Pajingo. In fact its offer cannot, unless CQT sells its shares to HSK, and I can't see that happening.