BCN - MXR, page-5

BCN have revenue of $90m a year and in reality make $9m dollars a quarter in profits, the books move capital costs around due to our investment in ground and equipment which is why our "profit" on paper appears lower. We would buy MXR (cap $8m) from one quarters profits and continue to generate cash to fund MXR team to continue exploration. MXR would just not exist anymore and existing shareholders would take a payout or shares in BCN. I'm not sure what you mean by refinance as in reality MXR would be taken over.