Yeah.... nah. No cap raise needed, but just brings on the T/O.
It makes no sense to raise and dilute NMDC's share with a cap raise, before a takeover. Their 78% will be 71% overnight, OR, if they (NMDC) subscribe to it, then they'll need approval to purchase that given the nature of the transaction and their current holding. All spells a big headache for them, and an outlay of cash for no reason.
Their current project and financing stage simply brings on the impetus for a T/O before Xmas. Minimum timeline for T/O and all T/O Panel objections and FIRB approval is 45 days, and so just keep hitting refresh on the old announcements tab.
If you were a holder and you absolutely thought they were gonna raise, not offer takeover, and drive the S/P into the ground (and f*ck their 78%) then - quite simply -
you would have sold.
But, you haven't. So, happy for anyone to sell in this environment. I am so open...
Don't mess this up folks - the coming days are the days you have been hoping for... Charts and timelines to follow...
