Ann: Completion of Sale of Millrose Project to Northern Star, page-12

First 12 Last

Share
Profile

Follow
williams11

6,716 Posts.

2194

26/07/23

15:25

Post #: 68993606
Share

Originally posted by SERA2g: ↑

A question for you guys.

Dont take this as me thinking we got a stiff deal on the Millrose sale but I would have thought the sale should have gone to a shareholder vote (whether legally or in good faith).
Millrose is a key asset which the team has recently undergone substantial drilling to increase the mineral resource.
Significant working capital has been spent off the back of dilutionary capital raises to get it to where it is now, and then it gets sold before a mineral resource upgrade and without a shareholder vote.

Am I missing something here?

i was invested in prospect resources when it's arcadia project was sold and that went to a vote so I'm a little confused.

If someone could provide some colour that would be appreciated.

Separately, cash on hand for future drilling campaigns and prospective M&A activity with a large investment in a successful mining company on the balance sheet. Pretty good position to be and we should see some exciting news over the next 12 months, I would suspect.

Expand

totally agree, normally it would in most cases go to a vote, no idea why it wasn’t but I suppose it was not a takeover. I have been in companies which have had similar buy outs and it most definitely went to a vote, being a key asset it should have, but I doubt anyone would have been against it considering the cash and shares on offer.

STK Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

Reply