Ann: Trading Halt, page-94

In reality, whilst holders get excited about M&A activity by default, you have to wait for details on the resource to be able to judge the deal. Is it high/low grade? What sort of impurities? At what depth? etc.

I’m obviously not a popular poster on these threads, but people who are calling it a good deal (or a bad deal) already have no idea yet. Need to see the details before judging anything.

But if they’re going 50/50 cash and shares, then they’ll likely be issuing around 645,000,000 new shares as well as the $40M cash. They had $50M cash at 31/10, less the US$1.25 (A$1.8M) they invested in Midwest, less any burn for the current quarter, so looks like they’ll be left with <$8M at the end of it to continue advancing the projects. So more capital raises down the line in the not too distant future (DFS’s are expensive). Cheers