IMO the market has totally miss it... Fine by me ! The $36...

IMO the market has totally miss it... Fine by me !

The $36 million note works very very well for MLX considering Cu is already past $8000 USD /T

MLX will end up owning a large slice of CYM plus we received cash but more importantly lost all those overheads.

Based on the number of Buyer shares to be issued upon conversion of the convertible notes (to be calculated at Completion based on the conversion price), Metals X will be issued at Completion two free attaching Buyer options for every five Buyer shares that are issuable on the following terms:

▪ the 1st option is exercisable for 1 year from Completion at a 15% premium to the Buyer’s 20-day VWAP to the Completion date; ▪ the 2nd option is exercisable for 2 years from Completion at a 30% premium to the Buyer’s 20-day VWAP to the Completion date.
▪ Buyer shares to be issued from option exercise include a copper price adjustment factor as follows:
▪ 1.0 shares for each option if the copper price is at or below US$7,000/t at date of exercise;
▪ 1.1 shares for each option if the copper price is between US$7,000/t to US$7,999.99/t at date of exercise;
▪ 1.2 shares for each option if the copper price is between US$8,000/t to $8,999.99 at date of exercise; or
▪ 1.3 shares for each option if the copper price is above US$9,000/t at date of exercise.

Heres the flop so far