No idea what you're on about with this:
"The directors get a get out of jail card and cash out. The shareholders will end up with useless shares in a crap Sagay project and a big cobolt project that has no mettalurgical solution."
*Everyone* gets a cut of the SVM shares and cash, not just the directors. As long as you hold CLA shares when the deal is struck, you get a cut.
You left out the most important parts of the deal.
sheesh, so many people losing their marbles. It's not really a complicated deal, don't need to be a rocket scientist to figure it out.
Ann: CLA Signs Non-Binding Term Sheet and Subscription Agreement, page-235
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