I myself would like to see a sale of the asset and a distribution of the funds to existing shareholders. The consolidation would perhaps be linked to the creation of new company focused on green metals. Existing shareholders would received shares based on current holdings with an associated capital raising to soph and insto with the direct intention of acquiring "green metal" prospective land. I think all appreciate that we need to clean up the register and get some very large foundation holders on board. The manganese would be the first of several assets. The company has been acquiring a great amount of land in the area and would be well positioned to continue exploration in the area. From memory, the manganese content is measured at about 15% which is significantly greater than other miners who average about 10%.
Having said that though, i think that all options would be considered. If there is a party wanting to JV or such and the conditions are extremely appealing, I can't see the board refusing. Neil wouldn't entertain any options where return to shareholders is sub-optimal.
BDC Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
