MCT will get $30m in cash and shares from the vending of AB.
Good to get a large cash injection to progress our other projects.
We will probably end up with about 20% of the new company, depending on how much cash is raised during the IPO.
That's ok, as it takes the heat off MCT who have not been able to move a project of this size to any great degree. Part of the problem imo is the perception held by the market that a company of MCT's stature could ever develop AB without either huge dilution or giving most of it away to a major.
Maybe we will start seeing some real progress in what are now our main projects, once we receive the cash injection.
Ann: Kimberley Mining TSX-V Listing Update, page-4
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