hi, I’m not sure how this works but bear with me because Im not sure if this is possible.
could MTC be raising the full $13m because he is trying to organise a carve out of the lithium business and sell off the existing business (which would only contain the sturec asset) in its entirety. I only suggest this because Gino has a lot of shares tied up in MTC and if he accepts a cash payment and distributes 85 cents he is still left with a huge amount of shares in a smaller company that he can’t easily dispose off.
He still needs the $13m to advance the lithium project so by raising the $13m in the spp he achieves both. Fully funded lithium project and disposal of his shares that he would find hard to sell otherwise.
MTC Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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