Let me get this right, you claim it's acceptable for WKT to borrow funds from shareholders, yet MRC isn't allowed to?
The announcement clearly states the payment isn't due until June, there is nothing wrong with MRC securing the funds now for the payment, anything can happen over the next 2 months, this provides the company a backup plan to move forward with the ownership, just in case they have any other drama's.
The interest rate is acceptable and much lower than WKT's unsecured loan, Which is a high-end credit card rate of 21%.
Anyway, all your work with Gammat during the weekend has resulted in one sell order of $85.
It will be interesting to see if MVC takes this loan facility to the take-over panel or if the shareholder approval is acceptable for AU Mining to increase its ownership. We all know the history of MVC and Gold Terrace.
MRC Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
