Their 3rd bidders statement seemed to throw a few red herrings.. running low on cash !! ..so what.. all normal. Dilution through cash raising ... all normal, particularly where SH can top up. Ships to big cause nobody else does it. Deeeeer!!! And then we have their expert and our experts report. OFF COURSE THE EXPERTS WILL BE ABLE TO PULL EACH OTHER APART.
This is DRX who HAVE FAILED to get any previous projects off the ground.
PAGE 9 is the clincher... Vessel Scheduling Partical facility User Agreement
This is outright misinformationform.(In my opinion) FACT The lease between Ports North and Mitsubishi is a binding agreement until 2038 FACT It provides for a maximum of 3 million tonne export PA (About $200 million to Mitsubishi). The wharf was built and paid for by Mitsubishi for this production. FACT To have a partical User Agreement, in can only be for more than 1 million tonne export PA. Mitsubishi would have to relinguish 1 million tonne export PA FACT The lease is only for the BARE BACK WHARF. FACT Mitsubishi still own the conveyors and loader to the ship nd they do not form part of the lease. DRX would have to go the ACCC or some similiar regulator to overturn the lease and private ownersip (in my opinion) FACT DRX know this... Listen to Niel McIntyre's presentation at Brisbane Mining Conference 16 March 2024. 8.50 and 9.54 minute mark where he refers to bare back wharf and clear permittable pathway. FACT Lease is a public document...Ask DRX to supply you with a copy or the dealing number you will need if you apply through Ql d Titles Office. (Cost around $45) FACT I'm a shareholder of MLM. Read my HC post history and I keep myself informed.
MLM Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
