Where's the DD disclosure? This looks like a massive gamble without some idea of were they are going to start mining. There's probably a good reason that RCF couldn't get this stuff up & mining during a higher gold price?!? They sunk heaps $$$ into it by the look of it.
So how's the capital structure going to look? After this project is 51% bought then companies merged (wtf?!?) then add the inevitable capital raise I reckon NTM might have about 700M shares on issue! A 2.75:1 merger means another 90M NTM shares to RCF right? Plus a capital raise to fund any mining strategy, say $5M@1c. That'll put some weight on the register...
What about the manganese? They'll forget about the too-hard NT manganese stuff now for sure.
Looks like the NTM directors were pretty keen to issue some shares. NTM should've just payed us out 2.8c a share when the NT government gave us the $2.8M compo & shut the bloody door.
Do we get a vote on this or what? Strewth.
Hardrock.
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