Well done Management for putting together this announcement,
I really appreciated the following table.
The reason I don't like Mr Caruso is he is damaging the company that I am part owner of (very small part) he has cost himself millions by selling the way he has, then continues to try to damage our investment by taking action against the company, which at first glance gives everyone the impression he is trying to protect shareholders from a takeover, although the company successfully raised 71% of the required funds when the share price spent the majority of the time under the offer price of 7.5c. Seeing he didn't take part in the offer is pretty disgusting its very bitter and I am looking forward to his continued selling until he exits the share registry.
It was also great to see MRC give investors a clear path on what the funds will be spent on first,
The Company plans to ensure funds received from the Offer are applied to near term cash
flow generative and future growth strategies within the Company’s Heavy Minerals Division as
follows:
1. 3rd Primary Concentration Plant (PCP), increasing overall plant capacity targeting an
increase in concentrate production.
2. Downstream integration transitioning into higher value finished products, targeting
enhanced profitability, utilising GMA negotiated funding2
.
3. Studies for future bulk mining unit targeting significant increase in production profile
aimed at ensuring all available minerals are mined.
4. Resource and reserve development to support larger production footprint.
Funding for medium term growth strategic projects within the Company’s Battery Minerals
Division will be deferred, pending the Company receiving additional funding either through
applications for additional Shortfall Shares or alternative funding initiatives subsequent to the
Rights Issue.
@1MarcusAurelius no doubt the alternative funding might be a lone from AU Mining, you have already provided details they provide funds to companies they are invested in.
I am certainly looking forward to MRC's future, management has done an exceptional job raising the funds we require to get these income-producing items built so we can all benefit from the increased production and income.
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