I wouldn’t be surprised if MMG move quickly on this deal. Stage 1 gets them 51% as soon as they complete 6.5m of exploration which could easily happen before Dec 2019.
It is in effect a reverse takeover and if there is a hint of success, they will move to 70% quickly followed by a final TO bid for remaining 30%.
Disclosure will be important and anyone who was dudded in the MMG takeover of most of OZ Minerals assets will remember the role Andrew Michelmore(ex CEO OZL) ( now MMG CEO) played in selling OZ minerals shareholders out.
In the meantime SEG does nothing but focus on Pardoo, Deralinga and its gold tenements and they could all be JV exploration deals very soon.
M1
Ann: Segue and MMG Limited Enter Into Plumridge Nickel JV, page-12
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