RE:Assuming that NMX stays in the 22 cent to 26 cent range overI know you meant to say 1.6 Billion....not million. But here is the jest to your questions.
There is no definite agreement/contract yet with Pallinghurst, so anything can change. But the odds are, all proposed terms in the LOI will move forward as presented.
- that Pallinghurst has guaranteed NMX that they will exercise all Rights that shareholders do not exercise. You can safely assume that many shareholders will exercise, so Pallinghurst will NOT be able to hold all 1.6 Billion rights
- that the Pallinghurst placement will go through at $0.25/share
- that the Rights will be offered at $0.25
materialsgirl wrote:
Should we expect that the new financial house
will buy all outstanding 1.6 million shares at 25
cents if all other investors choose bit to exercise.
If not there will be another painful chapter ahead.
Alternatively the new kid on the block may offer
to inject $400m but demand 2 million shares or
more.
Teck did something like this to Copper Fox
several years ago. It happens occasionally
if there is not an iron clad contractual obligation.
Does anyone have any insight?
mat