MGY does have a number of options other than a CR to meet its EGZ obligations eg:
1. sell the EGZ shares and raise approx $2.0m; and/or
2. reduce its 25% holding in Molo to say 15%; or
3. off set say 25% in the 100% owned MGY graphite to EGZ; or
4. if any of the other MGY prospects have potential accept a JV with a cash payment.
It will be interesting to see if, collectively, MGY management has any business acumen that will conclude a deal without exercising the easy option of having the shareholders contribute more funds.
Cheers
R1
MGY Price at posting:
5.0¢ Sentiment: None Disclosure: Held