Good Morning Ruau.
The following is all IMO,
I think it was @1MarcusAurelius who pointed out Au Mining has had a history of providing loans to the companies it has invested in,
I cannot see any reason if the Take Over panel refuses the underwriting by AU Ming that they would lend MRC the $6.6mil they were offering as an underwriting,
AU mining will be allowed to take up their rights of the entitlement offer, which is around $4.3mil alone. its only the $6.6mil and the $1.7mil placements which are the issue.
MRC doesn't appear to be rushing around to find a new underwriter, which gives me the impression they are either comfortable with their assessment of AU Minings underwriting and placement, or they have a backup plan (most likely a loan from Au Mining) to fill the shortfall gap.
The proposed use of funds released by MRC only requires $3mil in working capital,
Which should be easily covered by a capital raising or by a short term loan by AU mining.
All of the other items are not critical and can be funded by cash once the inland strands recommence production.
If MRC announces they have recommenced processing of the inland strands, I will be applying for additional shares in the placement. I suspect many existing shareholders will also be taking advantage of the 7.5c CR price once this news arrives. The forecast annual volumes once they start processing this higher grade HM zone, will nearly double the companies annual revenues.
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