I really liked the report and the direction of the company. The board, staff and workers can be proud of their achievements. I have some questions with regards the spin-out of the gold assets in NSW, in particular the report refers to (on page 13): "in-specie share distribution". Can anyone explain it - will ARL offer shares, and how will they raise capital for the new company? Would it be similar to the initial spin out of ARL from Heron, and how was that managed? (I first bought shares on the open market a few months after ARL had formed, so don't know the process that was used.) The new company will need to have capital to get underway, so what amount do you think it will need? Thanks amigos.
Ann: December 2018 Quarterly Activities and Cashflow Report, page-2
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