The keyword from the latest MDA is the "exclusive agreement" with whom Pala Investments will have their change of control with. The top 3 investors in Nevada Copper have about 82% combined ownership...
Usually when there are many bidders or lots of interest in an acquisition of this nature, the most interested party with the largest or favourable offer will have the seller sign an exclusive agreement with them. This prevents the seller from seeking bids elsewhere and gives the buyer peace of mind as well. Why? Because Nevada Copper's assets are very attractive to many much larger deep pocketed companies who know more about mining and have a wider range of ressources.
Whoever is wanting control of Nevada Copper Corp, is very serious. You can also go down memory lane in the October 2022 Press Releases and see that Nevada Copper was approached by a third party strategic investor that would have resulted in a change of control if the deal went through. Whether this is the same third party investor or someone new, I have no idea.
No matter how excited the few retail shareholders will get from this news, the SP is being controlled by a handful of market makers.
My wild guess here is ABX (Barrick will take control).
All the best to everyone holding their positions.