Agreed zmans.
The announcement is to demonstrate the serious intention of NMDC to AGO/MAK and to eliminate remaining doubt. A way of NMDC telling them let's take this to the next level - that they are thinking beyond the DD and have now got the financing lined up.
Great news but not the home run just quite yet as AGO/MAK have to respond still (by accepting another LCY-style lowball offer most likely). btw, as a LCY shareholder, I'm very happy with predatory lowball offers :).
Needless to say I am very chuffed. I think this announcement will also rekindle investor confidence. Buyers will now start bidding the price up in expectation of good news like any other healthy stock.
The market has now been primed for the Jorc upgrade. Bring it on!!!
timing of ann, page-8
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