Another stock of mine trafford [trf] has recently announced that it is spinning off its iron ore assets in South Australia into a seperate ipo.
It intends to raise 20mn issuing 20mn shares at $1
It will retain a 50% free carries interest in the projects, aswell as holding a 50% share in the new IPO.
OMG that is ingenous. It still retains 75% of the project and raises $20mn to fund it.
Imagine if YML did the same thing.
TRF assets are also at a far lower grade [grading 35%]
YML's Marillana project will have AT LEAST 30mn tonnes grading 57%.
If management were to follow traffords lead, they could hold off the Chinese whilst retaining a 75% stake in the projects whilst receinving enough equity capital to fund almost all of the entire exploration.
If management follow this lead, YML will be worth $2+ straight away.
I wonder if management and David Burt have thought about this.
They seem to be extemely switched on so im sure they have.
Hope so anyway
YML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
