Totally agree with you. While I only hold close to a 7 figure shares, will be supporting it. Regarding to the valuation and the remaining 35% the JV states;
(i) (Put Option) The Holder will have the right to sell its shares in JV Co to the Company for cash or listed shares at any time following identification of a mineable resource on the Licence at a valuation to be determined by an independent expert;
(j) (Decision to mine payment) The Company will be required to pay the current licence holder US$1,500,000 following the successful completion of the bulk sampling program which leads to the decision by the Company to start full-scale mining; and
so the issue of 30 mill shares let's say 7.7 c / share is a payment of around $2.5 mil (incl the US$100000) for the 65 % percent interest, valuing the entire lease around 4 million. I think it is doable easily to make a sizeable profit on it after all taxes, expenses, etc. Also the remaing 35% can be acquired, so makes sense to me.
MUS Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
