Ann: Scoping Study Nearing Completion , page-82

MDO are not cashed up but their invested parties are. Which means dilution for mdo when money is required.
OR
As we know, Money is king which = less dilution for MDO if they were to dump. But in saying that, I think they will wait and see how it all evolves, and then decide to chip in or sell, as I said in one of my earlier post.

In inregards to Warburton, I didn't think it was a good look considering he earns a quid or two. Why not use his own funds to convert. But hey, thats confidence for you?

JMO