new gordon capital research report, page-18

First NMDC and LCY management to agree on a price, then shareholder to approve and then regulator to approve. We start the run when we know the details, definitely a run up but don't know how hard as depending on the terms. Being a partner with a giant is always a good sign for the market. I believe the talk before MOU already set out some range of value that NMDC and LCY might be happy to negotiate. Without such indication, we don't bother to to a valuation and NMDC don't bother to waste time.