Yes SS got a good deal, MIZ also got a great deal. MIZ nearly fell over 6 months ago paying to have their ore treated and also sharing their profits on top. SS has parted with about $9.5 Mill to fund MIZ without diluting share holders. The con notes, over $3 mill dollars worth have hurt MIZ, keeping the SP low just so they can convert and get more shares. Only about $450,000 left and will run out on he 30/9.
6 months ago MIZ had a MC of $4 mill and dept also, wanting to change direction and needing funding. Imagine if MIZ did a CR at 20% discount hoping to raise $12.5 million, 3 times their MC. That would have been about 5 Billion shares on top of what they already had at the time.
MIZ now have their own mill treating their own ore at 16 gpt, targeting 18,000 oz by Dec at cash cost of $700 an oz, then wanting to double this when they ramp up early next year. They are now the ones charging a toll and get to profit share on top of this with third party ore, who's grades are up to a massive 90 gpt.
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