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Ann: Mount Morgan Project Update and Option Extension, page-8

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redsceptre

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25/09/17

14:52

Post #: 27440508
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Originally posted by notned ↑

The only part of this release I have a concern with is the paragraph relating to Raging Bull. If it was written to provide clarity it served to only muddy the waters.
"...prior to making a decision ....the company has agreed to extend the time frame" Who needs to make the decision ? What is the decision ? Makes it sound as if RB requested the extension.
I initially liked paying the $200K to RB aka Patrick in shares. Gives Patrick more skin in the game, but there is no mention of the price of the shares. Has the price been agreed? or is it subject to a future price, which would not be good as it could lead to s/price manipulation.
There is obviously some serious negotiation going on they may not be playing for cattle stations but they are playing for gold mines. To me it seems like a game of bridge where either party could win depending on how they play the cards. The dummy hand is you me and the other retail investors.
There are so many plays here. just negotiating fair/market value would be a challenge. This question would probably be a massive hurdle. To my mind 25% of the issued capital would be fair (CRB would probably think this ok but certainly not RB)

Meanwhile the paints is not dry sit back and watch it dry a bit longer, you cant rush it and you certainly cant put on another coat.

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Using the issued capital route for closing the 25% sounds like an equitable method and leaves interests aligned for long term success, throw an escrow clause in there if required

CRB Price at posting: 7.7¢ Sentiment: Buy Disclosure: Held
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