Ann: MRC notice to increase interest in Munglinup Project to 90%, page-16

Hi Croc,

I am surprised you call this death spiral finance, It is no different from your Chairman providing a loan to the company then converting the interest or loan into shares, or the shareholders who provided a 17% interest rate loan to WKT, then had their loan paid out in shares.

MRC has detailed any conversion of equity into shares will need shareholder approval. I have already stated I will vote against the resolution. I hope all MRC shareholders have a similar view.

@norway4 - I was simply advising the value based on the current SP is only $780k. Which I believe is cheap. When the DFS was completed in 2019/2020 the SP was 25 cents. this means Gold Terrace would have been issued $7.5mil worth of shares, which I believe is over the top.
We have all seen Gold Terrace sell their shares after the former CEO MVC was terminated, we have also seen Gold Terrace take part in a 249d action to appoint MVC as the CEO of EMC, I would much prefer Gold Terrace to sell at the lowest price possible. if they intend to stick around to benefit from the upside it is completely upto them.