Market cap $7.99m Cash $4.3m EV = $3.69m NGF is undergoing a...

Market cap $7.99m
Cash $4.3m
EV = $3.69m

NGF is undergoing a takeover for BAB for under $30m, if that fails. Word is NGF is one of the interested parties for EVN's Southern Cross operations. The idea is to combine the operations and attract synergies. But if NGF fails to acquire at least 50.1% of BAB, then SXG is a likely option given its proximity to EVN's Southern Cross operations.

NGF is likely to acquire Edna May + Holleton projects (Southern Cross).
http://www.evolutionmining.com.au/framework/documents/displaydocument.asp?doc=667