1) NMDC had the right to pull the pin at any time if they found DD was not acceptable. But they havent. So the DD must have stacked up.
Tick. For a clean company.
2) The experts have completed their reports and given to the NMDC board for review.
Tick. The independent geos must think that the project is good to put forward a recommendation.
3) The timing is as per LCY's guidance given close to a month ago.
Tick. Clearly both sides want to move quickly and get the deal finalised.
4) NMDC clearly want the resource and are hungry to pay.
Tick.
Only unknown is the price.
Even if they offered say 15c as a worst case secenario, this would be close to $30+m, which will allow LCY management to make some great deals and construct real benefits for existing shareholders.
That Sharon seems to have a way to twist things to get the maximum benefit to shareholders, of which she is the largest.... still (lets hope that isnt the case in another week)
LCY Price at posting:
19.5¢ Sentiment: None Disclosure: Held
