**expect a substantial re-rating of nmc**

Expect a higher bid than 7 cents

NuStar chief executive Brett Lambert dismissed the bid as "opportunistic", saying NuStar would soon be a bigger producer than Sedimentary in its own right, and that he expected a substantial re-rating of the stock as it neared production.

"I suspect as we progress toward a gold pour at Paulsen's, our price will naturally appreciate . . . so timing is critical for Sedementary, and I can see why Sedementary wants NMC," he said.