mexican standoff, page-21

Hi All,

If LCY wait until HAW hive off the gold assest to Newco, and have earned their 60% after spending $3.5mil and Pre-feasibility study, the shareholders in HAW will only own 40% of the Mt Bevan project, that gives them a 60% dilution of the project as LCY now owns 60% and HAW has lost 60% value. So 100% of the shares represent only 40% of the Mt Bevan project.

Then LCY only have to t/o the other 40%.

I think the rules are that once they own 90% of shares they can compulsorarily aquire the rest, but not 100% on this.
I Hold HAW

cheers

cj