Malcolm,is it possible that both Flannery and Sibelco are...

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23/03/24

17:26

Post #: 73027237
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Originally posted by MalcolmD: ↑

I'm not a DRX shareholder, as mentioned a while back in an earlier post, I'm a MLM shareholder. It seems there is a bit of history with DRX and "gunna" get something done seems a recurring theme.. Unlike MLM management who were installed after a special EGM called by shareholders to oust the previous Board. Our executive is 100% focused on succeeding and looking after all the shareholders.

Unfortunately the big boy companies like Sibelco aren't interested in small shareholders (cannon fodder for capital raises) and my fear in my opinion is that Sibelco will ultimately take control of any merged DRX and MLM and either lock up the resource until Mitsubishi's lease runs out in 2038 or do a deal with Mitsubishi. In either scenario, in my opinion sand will be shipped to some offshore subsidiary at just above production prices and then value added. This would leave the merged entity as a shell and a lifestyle company for some of management and no profits to distribute to shareholders (including the largest share holder in MLM the Flannery family at around 24%) Lets hope the Flannerys stop the rot and let both companies succeed. Particularly as DRX seems confident in the Port North wharf.

Otherwise basically the largest silica sand resource in the world will be foreign controlled with little or no benefits to shareholders and Australia.

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Malcolm,is it possible that both Flannery and Sibelco are engineering this merger to then place MLM management in charge of the merged entity?

DRX Price at posting: 2.0¢ Sentiment: Hold Disclosure: Held
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Malcolm,is it possible that both Flannery and Sibelco are...

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