I rate management. MD is from APO which built up and sold lake rebecca to RMS. Chair is ex-ORR which is a similar story. As to what they could buy/merge with is anyone's guess as they can't tell you details. All I know on that front is that they're actively looking but have high hurdles. Whilst M&A is interesting, the focus of nearer term catalysts is on the ongoing exploration efforts of the remaining tenure. A notable target is Box Soak in which to the north along the structure, NST has done a systematic drill program right up to the tenement boundary (I note NST itself has not said much about exploration work around this area so could be something, could be nothing).