Hey! Kranky, Now we are very sure that you are purely down ramper on ESI forum even you are saying trying to balance. Every single talk of words on ESI are negative and the single post on MNM forum you posted are all positive. What does that mean?? my friend? We already say we are welcome all the informative post even not holder. That is nothing wrong. But, you came here and downramp all the time. My friend, mind your business.. That'sall we like to say.. otherwise, we will come across your MNM forum and do the same as you do. here is the post you recently posted this morning....
Howdy all
This is excellent news.
MNM now have a line of funding in place to get MtM to JORC and GC to JORC and potentially commence LV exporation. Additionally, ability to access dollars from international (outside of Oz) investors is a plus and can create a wider interest in MNM instead of just Oz.
Any idea how much drilling would cost for 600 sq km in LV??? MNM drilled BM for approx. $1 million cash and we are talking about 50'ish sq km!
This, as mentioned, also reduces the need for CR's which are time consuming and costly. Any idea how much Cygnet was paid for the last placement raising??? Several hundred thousand dollars.
OK - let's do a comparison to see whether IK has struck a decent deal or not:
ESI
For $4 million cash they are handing over 300,000,000 ESI shares at 0.013 and 300,000,000 ESIO for nil consideration.
So for ESI to raise $4 million they are giving away $9.3 million in share value (300 mill x 2c + 300 mill x 1.1c) - that is well above 10%.
MNM
For $10 million line of funding, MNM hand over MNM shares at a 10% discount and no MNMOA.
As both a significant MNM and MNMOA share holder - I'm delighted that the discount applies to MNM shares and no further dilution to MNMOA!
A management team that values the options and not hands them out willy nilly - nice!
Additionally, if MNM were to create some form of factoring loan - not only are there admin charges - but the interest on monies borrowed is circa 12% p.a.
Also, "big money" investors are always wary of speccies and how much cash they have, where that cash will come from and what deal they do to get that cash. This should give confidence to those sitting on the sidelines waiting for MNM to get funds for the future.
So, all in all, a great deal for mine.
Cheers K
ESI Price at posting:
2.0¢ Sentiment: LT Buy Disclosure: Held
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