Ann: A$4M convertible loan funding facility, page-4

Hi RookyKid.

You did miss one part of the announcement which should put at easy the doubt that you are pitching to investors.

Alternative sources of funding
Prior to executing the binding term sheet, the Company explored other potential sources of funding from third
parties via its adviser Bacchus Capital Advisers in London and Australia. The MRC board is satisfied that given
the need for capital and the absence of a superior alternative, the loan from the Lender is in the best interests of shareholders.

You only need to read the highlighted section, the deal with AU Mining is superior to the alternative, I would have hated to see what discount they would have been offered to provide MRC the US$4mil they require.

Anyway, its disappointing that Tormin and Skaland are still performing poorly where we still need to dilute shareholders to raise funds to keep the lights on.