It won't be the same, as MCT need cash and this is the best way forward. $4.5m with no dilution is a good thing.
Then we get $20m worth of shares even if the KML stagnates, or more if it all goes well. If we hit the 12 month and 24 month sp targets, we get the extra $8m cash plus the shares will be worth $40m.
MCT have messed around for a couple of years trying to get funding to advance Admiral Bay without success. It was affecting the other projects also by sucking away scare funding. We haven't had a decent drilling program in that time on any project and probably won't until the $4.5m from KML listing.
So, without spinning out AB and the other zinc projects, MCT will face dilution. At least our short term funding is taken care of and, maybe for the following 2 years if KML sp holds up.
Then, we can always sell off some of the KML holding to advance the battery metals projects if needed. None of this is possible if MCT just keeps holding onto AB without being able to develop it.
So whatever happens, MCT will not be in the same position as now if the KML listing is successful.
So I am voting for the KML IPO.
As for the director warrants, as I said before, they haven't earned them and don't deserve them, but I consider it will benefit me to let them have them. I am also therefore voting for the directors warrants. I also intend to sell out on the IPO hype when it comes. Imo, MCT will hit 4/5c and if it does, I will be gone.
Now, having read the Q&A, I find it laughable that they would state MCT is one of the first movers in the battery metals space. They have just admitted to being completely inept, as others such as PLS, AJM, KDR and NMT are about to, or have already started making money and have huge market caps. If we were first movers, we should be well ahead of where we currently sit.
All just my opinion.
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