Ann: MCT Takeover of NME - Dispatch of Letter to NME Shareholders, page-14

Agree AppinTR.
Just for interest about 3 years ago at the NME AGM I asked the directors why they didn't do what every other junior does and do a capital raise, pay themselves and clean up the balance sheet by extinguishing the debt. The response was at a current low share price (from memory it was about 1.5/2.0c) it would be too dilutionary and therefore unfair on shareholders. That was an eye opener to me and something I have not seen in a junior in 30+ years of playing in this space.

Some of the critics on these threads may want to have a look at what the MCT director fees and salaries are and take a look at the past few capital raising dilutions did to the number of shares on issue to pay for them. (page 22 of the 2021 MCT Annual report).