TXG vs NES
There has been some speculation that Torex is raising money to buy NES..i dont know anyone in their right mind that would take TXG shares for NES shares..and 350 mil aint even getting close to what i want for my NES shares..and there is no scenario i see where lukas would take txg paper
i think this is really good news for NES..i agree with those that think the fact that TXG is getting production financing effectively takes them off the block.. anything is possible but increasingly unlikely as time goes on..
the math wont add up..txg paid 250M for the project and now are raising 350 so they are into it for 600 million with a share count approaching 600 million shares after this financing..at $2 thats already a 1.2 billion market cap..
then we have NES they paid 2 mil for the property raised about 50 million over the years and still have 35 of that in the bank..drilled 125 holes and have an estimated 3 million in the M&I category
NES is the undisputed takeover candidate in the GGB now.. i feel many were kicking both sets of tyres and decided with the topographic challenges of the TXG deposit and the fact that a hundred or more families need to be relocated NES was the better option.. of course we dont have a bid yet but im sure the data room is pretty crowded..
IMHO there was a lot of money in TXG anticipating a takeover bid.. with the news yesterday i hope much of that money will flood into NES closing the valuation gap! TXG has decisively entered the development phase and that is notoriously boring for the share price..
the next 30 to 60 days will be interesting for sure!
who will blink first?
will we get a haloween treat or a christmas present??
be right.. and sitting tight..
caliche
