Ann: Scheme Booklet registered with ASIC, page-85

The main point of my post is that TMT has cash reserves which would carry it through to March 2027, at the current rate of cash burn. They are well funded to continue, should the merger be rejected. The cash belongs to TMT, full stop. In the merger, AVL would get TMT's mining assets on the cheap (@~25c/share), plus $15m in cash. No wonder AVL support the merger. I'm betting AVL, RCF and Regal have their eyes on that cash going forward. The fact that the cash is there means that TMT should be under much less pressure to merge at all. The fact that yesterday's ann mentions that these major shareholders won't necessarily support further cap raises by TMT, if the merger does not go ahead, says it all. I'd say so be it, TMT won't need to do a CR again for >3 years anyway. Vote NO to the merger.

All IMHO, DYOR