9.7M (rounded up) is 'before' costs. We don't know the fees associated with this deal (other than the 50M free options), so the real figure has to be less than 9.7M. Why not disclose the broker fees in the announcement? Strange, but let's turn a blind eye to it lest I upset someone.
This is what they said about 12 weeks ago (28-Apr)
"Firstly, Mutiny will raise $8M by way of an equity placement to institutions, to move to 70% ownership of the Gullewa Tenements, including transfer of all tenements to Mutiny. This will enable all permitting and administration to be undertaken by Mutiny" Following completion of tenement transfers to Mutiny, the company will then subsequently settle the $4M purchase of the outstanding interest in the tenements. The company is currently reviewing plans to fund this stage by way of a loan from a Financial Institution as a means of reducing shareholder dilution."
So are they using this 9.7M placement to get to 70% like they said? Or only going to use 4M and spend the rest? How many more installments are left after 4M installment due on 24 August to get to 70%?
MYG Price at posting:
11.3¢ Sentiment: None Disclosure: Held
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