Look, there seems to be some misunderstandings here about where NMDC is headed on this.
I invest in pre-takeover mining stocks regularly (if they are being acquired by foreign entities), as the playbook is the same every time. They have to offer an acceptable price (that garners the 90%).
The offer for Carabella Mining (ex - ASX: CLR) was 45.5c, ----> 250% of the 20c last traded share price, and ~200% of all the VWAPS you could pull out of a magical hat. Why did they offer that? Because they had to, to not get c*ckblocked by the Takeover Panel (like Flinders Mines is currently getting block, right. this. moment).
Further, I was part of the ASX: DTM (Dart Mining) delisting and cashed out 100 profit on my shares on an offer of ~63c cash and conversion to my 31c shares (which I acquired for less).
So, this is ordinary. In country takeover, sure, less regulation - different rules. But foreign backed foreign owned T/Os play like this all day, and turn coin that pays off houses. $$$$$$$$$$$$$$$$ Look em up. Opportunities like this are rare...
