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Justadabble

9,902 Posts.

3298

03/02/21

11:53

Post #: 50669173
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Originally posted by vcubitt: ↑

I think that will happen - by way of loan, or cash for shares in a similar fashion to the settlement of MEC's loans to Advent and Asset by transfer of MEC shares to settle the debt. MEC cannot put any further capital into Advent Energy as the company stands (to my understanding, without approval or by growing into other investment areas first).

BPH will increase its stake in Advent while MEC 's interest will fall - it is inevitable at this point. How much interest both companies will have in the end is anyone's guess (other than David Breeze that is - he knows), but I think they will be about the same, or BPH slightly more interest in the end.

I can't see DB doing anything that removes too much of MEC's interest in Advent after going to the trouble of obtaining his "reinstatement" on the board and cancelling the in-specie distribution. Advent Energy is all MEC has, beside the PDF status (which without Advent doesn't mean much).

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So the Advent offer is $6M, BPH raised $9M, already had $2M in the bank. I hope some of the excess is to get MMR back up and running.

MMR Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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