Maybe I have been around for a while. But when it looks too good to be true it often is.
Hence to manage risk I have reduced my position by 50%.
Majors do not let go of cash producing assets because they want to do a junior a favor because they are such nice guys.
My key concern is the state of the plant, current valuation of the plant and potential environmental liabilities around it (ignoring if there is or is not a readily available product to start processing - is this today / 6 months or 1 year away??).
The whole transaction looks rushed. An independent report on the valuation and condition of the plant should be a basic requirement to protect our risk.
How is it unreasonable for any shareholder to want this? Amazing the amount of trolling to suppress that this is a sensible idea.
After so much long suffering I hope everyone gets exactly what they deserve here.
Same sort of mindless thinking by a few that has seen 3 transitions of the board of MLL. You have to really question these holders judgement.
