I couldn't agree more!
People on here complaining about dilution...I think Chris has a better understanding of what this company needs at this time and he's the one taking the biggest hit on dilution.
You don't have value of resources if they're stuck in the ground, we needed a way to liberate them. SIMEC is that way we realise any of our assets.
Clearly SIMEC and Gupta has a focus on quality steel making, electric cars and the three commodities he needs for that are Iron Ore, Copper and Cobalt. We have all those.
People worried about SIMEC taking the iron ore assets from under us, you can't do a connected party transaction without the approval of shareholders who aren't connected. So we the 49% would have to vote and SIMEC wouldn't, so there is no issue of him taking the assets for $1 once he has the 51%.
Further to this we've got someone who wants to get these projects going asap, and I'd prefer 49% of something, then 100% of nothing. In a few years we'll actually have a producing iron ore mine which a month ago was just a dream.
I couldn't agree more!People on here complaining about...
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19.0¢ |
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Mkt cap ! $60.16M | |||
| Open | High | Low | Value | Volume |
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