Perhaps NME were potentially cash strapped and on their knees when they entered into the JV, MCT have earned their 51% controlling interest by honouring that agreement,you couldn't possibly throw more cash at it or time developing this project without a course of action that protects that,the partner has been recalcitrant to say the least in the development of this project and contributing any $$$$$$ to its progress which kind of validates my opening sentence, most bases have been covered in trying to move it forward so hence the current situation,on a personal note i cannot for the life of me see any sound reasoning for throwing money at NME as a new shareholder,just read (independent valuer's statement),to me its a dog on its last leg and its pretty damn hard standing on one leg for very long.
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