REQUEST TO CALL SHAREHOLDERS MEETING OF METALS X LIMITED, page-7

There was 2 carrots -
1. A 2.5mtpa copper concentrator and all associated infrastructure (power, camp, airport etc).
2. A large tenement package in the highly prospective Paterson region

They needed to dangle these two carrots and sell the thing for whatever they could get, it’s $200m worth of infrastructure and 2,500sqkm of land package. How they couldn’t sell that for $1 I don’t know - i guess they simply chose not to because they wanted to have another crack and be managers of a multi asset business - risking shareholder money to try and cover themselves in glory.

Now they’ve sold all the upside in the tenement package.