Ok. So here are the facts, then the plan MHK has some good prospects. (Go Tysons) Old Mate has 6.5% MHK will need a lot of cash to properly explore what could be another lawlers (or..super pit would be nice) That’s the end of the facts
Old mate knows 6.5% isn’t enough. To have a sensible (or even blocking stake) he needs closer to 20%. ..18% sounds about right. So MHK do placement to old mate and secondary raise to us filth and sophisticated investors and directors and their pets. They would like $10M say, so thats 50M shares at 20c. 150M shares in total. Old mate has 27M shares (18%). Therefore has to stump up for 20.5M shares or $4.1M
Result. Blocking stake achieved, $10M in the bank.. That’s the plan
MHK Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
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