Ann: MCT moves to 80% interest in Kookynie JV, page-11

At the end of the day it's a good deal in the sense that MCT can now get on with drilling etc as 80% owner of the Kookynie Project. The $ numbers you quoted IMO are somewhat academic because realistically how would NME pay the money they owe (they have no money) and how would MCT realize the value of their 35% NME shareholding - NME shares are illiquid so finding a buyer of that volume of stock at a reasonable price would be almost impossible.

So overall IMO the news is very, very positive - let's hope that it proceeds as outlined in the announcement (it's still subject to certain conditions as per the announcement). MCT can then get on with drilling and adding resources as 80% owner of the promising Kookynie JV.

GLTA & DYOR