Just to highlight an important point that some may not be aware...

Just to highlight an important point that some may not be aware of, all permit activity needs to be signed off on between NWE and ERL including drilling and exploration activity, FID and FEED in ground matters etc. Iain did mention after the AGM that a minimum of two members of NWE must sign any action agreement before MIN/ERL can move on activities, so given the board team structure at NWE it is very difficult to get board penetration by ERL/MIN. Iain can stifle development activity if he choses and has enough support on the register outside of MIN to drive a hard bargain! Better thank Iain again for running a 'lean' organisation here everyone, it's set as a base cover for a low ball offer from MIN or anyone else for that matter, especially with the makeup of the share register. On the flip side, it could be holding the share price back a bit for now, but the payday comes at the end not the middle for junior partners so it's the suitable takeover agreement we're looking for IMO.

DYOR