It looks like NES has raised capital to cancel the deal.I don't think it's a gift. That doesn't make sense. The deal is set to go before shareholders in April so it's being fast tracked. NES has no operations and only assets so it's an easy play. However, why would two main shareholders put up $2,000,000 "for operational purposes" so close to a buy out deal with a maturity set to the closing date of the TMM deal? And of note is that the $2M with their current cash balance of $3.6M would allow for cash proceeds in excess of the $5.5M needed which would allow for a termination of the deal. Perhaps they have a better offer in ther works (although there is a last right clause). Perhaps it's a change of heart and perhaps they now feel that the $5.5M termination fee is cheap in comparison to losing control of NES. I don't know. But it's suspicious given that it equates to the termination fee and it leaves control and the funds in the hands of the existing NES shareholders.
My view of the deal is that it's a great deal for shareholders of TMM although I have yet to figure out why each analyst downgraded the stock while giving thumbs up to the deal. Yes, there is a slight dilution and there's the extra $10M raised but that's nothing really. This deal has the potential to make TMM into a real midcap gold producer.