This probably makes more sense than the Lithium spin-out and could explain why Russell has gone for the 'unfair' (yet, we'll do it anyway, thanks ASX and ASIC for looking after shareholders interests, not!) issue of 6,000,000 shares for the gold royalties. Feels like the issue of these shares is a bit rushed.
My guess is MTC is using the spin-out 'spin' to negotiate the best price possible for the sale of the Lithium assets. I wouldn't be at all surprised to see a sale and then special distribution to shareholders of some of the sale proceeds.
I doubt the sale price will be anything close to $10m plus, my guess, $5m max.
Doesn't Russell need some cash, like $38m to settle debt to Argonaut Securities, yes he does, as widely reported in the media - Russell defaulted on his $6m loan from the stock broker and now owes $38m!!!
This probably makes more sense than the Lithium spin-out and...
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Last
21.5¢ |
Change
-0.005(2.27%) |
Mkt cap ! $42.26M | |||
| Open | High | Low | Value | Volume |
| 22.0¢ | 22.0¢ | 21.5¢ | $7.449K | 34.54K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 22606 | 2 |
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| Last trade - 11.52am 30/07/2024 (20 minute delay) ? |
| MTC (ASX) Chart |