"It also follows that we could now see the start of diverging paths for NOT and FWR, as one would be aiming for a production scenario, while the other is gathering assets to encourage a takeover"

Or will it be NOT taking over FWR? ......given that NOT may now be backed by some "unknown" entities. For all we know, Kinross may now be the force directing NOT from the sidelines looking to acquire cheaply through NOT. Just creative thinking.