We honestly would have had a good chance of making 28c-30c + by now under our own steam. (although the prior market manipulation with our sleepy MEP, might have continued to hinder the mep shareprice. I hope not )
Recently with global focus on the Cloncurry- Mt Isa East discoveries as well as the landholding Minotaur went ahead and amalgamated from Sandfire + the Oz deal ; and A1M listing with Eloise ownership now - it would be reasonable to believe that Minotaur would have rallied up to more true value, including for Poochera Halloysite- Kaolin and the 25% JV .
Now even the reneged on former Highland Plains seems suddenly very desirable to others, and MEP would have owned shares in the newly listed company. (although now ADN / MEP shareholders own the settlement shares)
I’m agreeing with Plext & @ChinaGold and likely us all here - it is very wrong that shareholders gain such a tiny % of Demetallica shares, after years of holding and supporting the company’s years of exploration and land acquisitions paid for with capital raisings & spin- out of resources.
The sudden ascendancy up the share registry by SFR was a shock. (although this was forced on MEP, or I believe another ambitious explorer/ come developer want -to- be, would have acquired the assets surrounding Jericho instead, having struck a deal already, with Minotaur having the rights to equal or better the deal with preeminent rights with land locally and relationship with SFR )
MEP management were very busy as they saw it, and juggling to get to Qld between state border closures to oversee Breena Plains work + checking out what was happening. Would have delayed TO negotiations with ADN as well as complicating the deal.
Anyway , it’s Friday afternoon after a big day and a restorative swim + wine more sensible than going on more about all. The 1:20 MEP for new Demetallica shares, represents management again not returning longterm value to shareholders from significant years holdings. Perhaps it can be made more fair with a minimum 25c IPO price @Plext. 30c be more fair value.
