Yesterday's meeting approved the share and convertable note buyback. Conditions: five shares of MSC can be converted to a $1 note asttracting 10.5% interest. The notes will be listed on the ASX.
IMHO, if you think this coy can succeed with its Skardon Kaolin plant, then this is a great investing proposition.
Current price = .13 X 5 = .65 which can be exchanged for a $1 note redeemable in four years and attarcting 10.5%, Or they can be traded. Back by Skardon River assests.
MSC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
