Took a look at this and passed - it's a potentially great asset...

Took a look at this and passed - it's a potentially great asset but I don't like the corporate structure. They are issuing another 11M shares and a few hundred k cash now to acquire the asset, with added condition they will have to spend $1M on the asset over first 12 months to acquire 30% and another $1M over 24 months to acquire 70%. So MQR won't hold majority of these assets for at least 2 years. the $2M they don't have and will need to raise (i.e. further dilute), so once all the directors options, performance rights, asset acquisition shares and new issued shares for pending capital raise are added in- you will likely be getting to over 70M shares fully diluted, or current Market Cap over $25M and MQR won't own the assets for another 2 years. Director Rocco is a major shareholder of the current asset holding company and MQR. So a win win for him, as MQR shareholders will effectively be proving and building the value of the resource over the next couple years without owning it and at no cost to Rocco. If anything goes wrong in that time, shareholders of MQR could end up with no assets and blowing millions in cash, while Rocco spends nothing and watches the value of his assets grow, not such a great deal for shareholders.