re: *****nmc advise to reject offer**** good news This script is...

re: *****nmc advise to reject offer**** good news This script is out of this morrning west australia
NuStar bid throws a spanner in split move

JOHN PHACEAS


Offer might be rejected, NMC will go 9 to 10 cents


NuStar chief executive Brett Lambert dismissed the bid as "opportunistic", saying NuStar would soon be a bigger producer than Sedimentary in its own right, and that he expected a substantial re-rating of the stock as it neared production.

"I suspect as we progress toward a gold pour at Paulsen's, our price will naturally appreciate . . . so timing is critical for Sedementary, and I can see why Sedementary wants NMC," he said.

"I don't really think it is in our shareholders best interests on an ounce-for-ounce basis. For us, there's really not much of an upgrade in total production or size."


"It's a potential world-class deposit . . . building up to three million ounces," he said."We've got eight high-grade mineralised structures there so far and the majority of production is coming from only two of them."