I guess the best measure for a fair deal would be to work out what percentage of QBL market cap is based on their 55% of MCL & what percentage the bauxite.
I'd imagine that the bauxite would almost account for none of QBL value/market cap.
On this basis you would have to think that for Andrew to receive a fair deal he would require QBL to increase their current shares on issue by 45%.
It would be great to get MCL for nothing but people have to ask themselves why would Andrew give up 45% of any profit under current structure only to end up with significantly less on share & dividend arrangement.
Andrew is actually doing what's fair but in the best interest of shareholders.
No consolidation means no compliance with asx.
The other alternatives are float MCL & devastate QBL share price or QBL lets go of MCL 55% & we are back to a bauxite company with no hemp, no mm & a significantly reduced chance of future revenue/profits.
I know the whole process has been daunting for shareholders & the cr for Medcann fit out frustrating but people need to assess the position of the company.
We know we need the licenses, the facility but with limited time & finances hard calls need to be made.
Question the action but equally question the inaction which also holds its own consequences, think hard about that.
QBL Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held