18.73%, nowhere near good enough to reach 30%. NGF have added 12% since the start over two month ago and need over 11% in 6.5 trading days. It's looks definitely Dooomed.
But NGF will be our largest SH with approx 20% and one would think they will be professional and business like, take this defeat on the chin and either come back with a decent offer or work with BGL to see this massive gold project through to a successful conclusion.
IMO anything less than 30% means NGF wont be comfortable about preventing another bidder at somepoint taking over BAB with a substantial offer. At 20% they know BAB are still an easy target for someone less tight fisted. I think they will continue buying after the offer to at least 35% to discourage others and secure BAB from future preditors.
BAB Price at posting:
7.1¢ Sentiment: None Disclosure: Held
