only two trading days left in october , page-6

Sunman, Mega don't need to raise $70M for Uley, they need to go to market (so our equity is tradeable rather than dilutable) and prove up a total value of $210M for Mega assets including Uley in order to give our 30% equity position a value of 30%.

If Mega could get their hands on $70M don't you think they would have done a clean deal and just bought Uley outright? It appears they couldn't even find the $32M cash to close the earlier JV deal.

This is a financial engineering exercise by Mega that doesn't appear to be going so well. Their CEO promised us an all but IPO info pack months ago and it really is looking like they have real problems delivering. Certainly the market seems to be of that opinion.