Ok, the scheme document has dropped & everyone has has time to publish their comments, conclusions & feelings.
The document itself is a very ugly doom & gloom piece. I cannot & will not believe that TMT & Ian in particular had much to do with producing it.It's an AVL production designed to scare us into voting yes. All based on funding.
Do junior explorers need funding, they sure do.
Do junior explorers need funding to build & produce, they sure do.
Both AVL & TMT will need funds, well found Sherlock!
Is there anything in the whole document that positively encourages any TMT shareholder to vote yes, given that most TMT holders think the 1 for 12 bid is a very low offer.
No, not one positive word or sentence telling us "This is what you'll gain boys & girls".
In terms of one syllable that we all understand, whats in it for us! We are giving up 60% of our ownership to 'merge' with an entity worth less than 40% of ours.
We can all see what's in it for AVL. Everyone just needs to Rhys' recent summary to know that.
But, and its a big but, the expert slipped slightly off the fence & said 'not fair but reasonable'.
And that may be a partial answer. AVL needs it to happen. RCF wants it to happen. TMT wants it to happen. And the independent expert gives a face saving opportunity to the offerers to raise the bid to a level that may be acceptable to enough votes.
I am, & it is just my opinion, I have no prior or inside knowledge despite what some infer, expecting a raised offer between 14 & 16 to materialise in the coming days. It may not be what some want but I think enough people have had enough of the argument, name calling, bullying & boring repetitive drivel to want to move on.
If it comes through you can all make your own call. I think it will get through enough, to get the votes through the 75% threshold. It will then be up to the small individual shareholders to decide what they want to do as the threshold on the count is 50% plus 1 to get it through. I would not put it past the yes group to 'branch stack' the register with new holders but maybe that is just too cynical.
As I said, just my current take.
A couple of things I'd like to clear up.
The Yarrabubba project will definately be what starts this TMT or the new merged entity off. The constrained tenement space is/was known & accounted for & was documented in the 2022 announcement. There is no problem with access to the 'landlocked' tenement with TMT & AVL already having a signed agreement to allow for it.
Its unfortunate that Ian Prentice does get a windfall of $200 odd thousand but this is the result of a milestone incentive put in place some time ago. And whatever anybody may think we all have to admit Ian has got this company to where it is today in great shape, with so few shares on issue & much much quicker than our 'jealous' neighbors.
I see sabine & others keep having a shot at the original no voters who were prepared to put their hands up & tell both boards that the shareholder base was not happy. Well, & I will be patronising here, darling sabine you have no idea. I'm on the list & am currently underwater. I know, from chatting with others on whatsapp, that so are many others. TMT at 2c, I wish! I do remember when it was 6c a few years ago, but never near 2c & I did not partake at the time, I thought I was down enough then!
DYOR
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