Yesm Patmeate, I had forgotten about the land sale, though I expect the proceeds will be used to buy another site or perhaps they would keep the cash and acquire another site through issuance of shares and options as they did last time.
The by product SCM(Silicious Cementatious Materail) will be mixed in with the MgO. It is only in the furnace reduction process of MgO to Mg ingots that the SCM is separated. That's why our revenue will be lower, whoever buys the MgO composite will have to put it through a reduction furnace to extract the Mg.
I agree that a US investor is more likely than an Australian investor. I'm told that there is much more interest in the hydromet process in the US than Australia.
If they are going to do a share consolidation they need to do min or 10:1 otherwise it's cosmetic. In every share consolidation I have seen, the shareholders lose out - they do not maintain the consolidated value.
I guess we have to prepare ourselves for another capital raise in the next few months.
LMG Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
