I reckon the takeover figure is around that roadblock at 22.5c.
NGM have little cash and only good ground that needs lots of cash to explore.
The 5m they are raising will not last long, big brother (PDN)will be forced to act once the current monies spent.
Any further raisings will either dilute PDN or put them above the magic 20% where they then have to declare their hand.IMHO
