Macquarie advising AZR. Citigroup and others advising MGX.
Macquarie are good at what they do - clearly the client is the issue. Reports say Macquarie were suprised by the financing development.
You are right - nil probabilty of a higher bid. The wont need to bid more anyway.
MGX will effectively pay about 1.5c more on my calcs (allowing for the benefit of the royalty itself).
Must remember that the royalties only over 30% of production. does that mean that issuing 250m shares to save $1 per tonne would have been a good deal?
AZR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
