The old Pareto principal at play here.
Del Piano is handed exactly 20% of MLS in exchange for 80% of three unexplored leases.
Sitting on the 20% threshold he basically gets effective control of all assets including $19m cash, two JORC projects, lithium project and others including a share of the new 80% acquisition by virtue of his holding in MLS.
Ann: Becoming a substantial holder, page-26
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