I could also strike oil with my shotgun. Virtual 0 chance of a BO right now #1 reason - management will not let it go for cheap, they have stated this in videos.
#2 Too high of a risk for the majors to BO right now considering they can wait until after Corps approval then negotiate. Considering management didnt sell at $21 its likely they wouldnt go a dime less than that even in its present state, which leaves little to negotiate with a lot of risk for the majors.
Management knows they can get a premium with a corps approval.
There is possibility of a second bid, but another major would likely still do an option deal since they know NDM is over a barrel without a Partner.
They already got what they want from FQM so unless a major stuck their neck out to do a BO right now (which we know management wants at least $21 per share on upwards of $35) and we know PLP is not worth that right now its unlikely. Also a major to come by and raise the bid IS POSSIBLE its unikely because they already have what they want with FQM and I am sure they dont want to mess with that deal unless there was a much higher bid, but still in the event of a higher bid it would still be an option deal. Everyone knows NDM over a barrel and is almost broke with no money to proceed into permitting on their own without massive dilution. They give up 50% equity now, but that remaining 50% worth a boat load upon Corps approval and they know this. Give up % now for huge reward later.
Its the truth. NDM not worth over $10 per share right now even with 100% BO, and no major will pay over that until Corps approval. Anyone that says otherwise is lying to themselves. Price Target end of year should be $4.95
