They only get the warrants if KML lists by end end of this year.
The MCT options have exercise prices of 6c, 8c & 10c.
No listing of KML, no extra salaries either.
They only benefit if KML lists, which also helps MCT, especially the cash component which will reduce the need of another cap raising soon.
As MCT will hold around 40% of KML at time of listing, we are in effect only subsidising 40% of the warrants, the rest of any future dilution from the warrants is borne by other investors of KML.
The warrants will have a 36 month escrow period, so if KML fails then the value of the warrants will also reflect this. Alternatively, if KML does really well then the warrants are worth more and MCT gets full value from the deal.
I will vote yes to all proposals and hope the directors do very well from this as that means we all do well.
Got quite a few today at .021 just in case the current selling is partly from end of financial year selling. Have a large order sitting at .02 that I hope will get filled tomorrow.
2 months from the start of RC drilling and still waiting on results. Very poor effort imo, which pretty much sums up the last 2 years.
Still, my focus is on the KML listing as the start of a turn around. I'm buying now for the future, not for what they have achieved, as they have done very little actual exploration, though have talked plenty of what they are going to do.
Just about everything they said in the Feb RIU presentation has been turned on its head, which gives the impression of incompetence. I'm hoping they came up with a better plan, rather than an act of desperation. Maybe they just realised that spinning out the zinc assets gives them potentially hundreds of thousands of dollars each in warrants and extra salary for doing what they were supposed to be doing anyway.
I can't write what I actually think of the directors and their performance as I will be moderated, but I think they will look after themselves well and shareholders will benefit as a consequence.
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