I agree that management has put us between a rock & a hard place, and there may be little difference in the MT as to who prevails.
Having two companies competing is favourable. No improved offer from Z as yet. Just another indication of what a mess management has made of the project.
Z negotiating down after the first tranche, hiding behind Chinese Govt determination of value is my biggest concern. This is not a factor with RSG.
Agreed few conversion notes may be taken up, and that RSG undoubtedly will act in their own best interests. 8% sounds good. Guessing capitalised for first 12 months means no income for first 12 months. Unrenounceable meaning can't be bought, sold or tansfered. Unsecured? RSG underwrites. If buying notes and things don't go well, can the notes be worthless? RSG mentions downside protection. Are you able to explain this please?
As with 99% of shareholders, seriously under water. Agreed to increase our exposure may best be done on further weakness. If Chinese govt approval is with-held, that weakness will be significant......
NMG Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
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