This is my interpretation of Resolution 4.AU mining appears to...

This is my interpretation of Resolution 4.

AU mining appears to be only lending MRC $800k for 6 days (when MRC is expected to increase its ownership to 90% in the Munglinup Graphite project) along with paying the $200k for the cost to establish the loan. the costs to establish the loan seem excessive = 25% fee.

The total value of the shares being issued is worth $1.22mil. How is this in the best interest of shareholders?

If MRC had the right to borrow the funds from AU mining for 12 months at 15% interest, the total amount payable would be around $920k. We could borrow the funds for AU mining for 2-3 years based on this interest rate and still not get to the cost of the $1.22 mil worth of shares that MRC is seeking approval from shareholders.

If my assessment is correct, I will be voting against this resolution, I would much prefer to borrow the funds rather than pay 61mil shares within 10 days of shareholders approving the placement.