I think it's not so much of a 'conflict', but in fact they actually play on the same team.
It states on the MTAL prospectus:
"Potential target assets may exist within existing public companies that are listed on smaller exchanges that don’t enjoy the highly liquid and deep capital markets of the US, and combining with these businesses could unlock shareholder value in a US listed environment."
"We are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors, or completing the business combination through a joint venture or other form of shared ownership with our sponsor, officers or directors."
Chain of events leading up to diggers, rapidly unfolding story:
24-Feb - Recapitalisation announcement, Mick joins as ED, tipping in a decent chunk of change to the effort for 18M shares total including options.
11-Mar - MTAL incorporated with Mick as CEO. Two weeks in the VXR job, he likes what he sees and 'found' another job.
17-Mar - MIN buys 19% (I would think they belong in the inner circle, won't be betting on a dud that's for sure)
6-Apr - MTAL files on NYSE
1-July - BB starts
12-Jul - MTAL SEC filing / BB gets 50,000 shares for being 'advisor' / VXR placement completed
16-Jul - BB+VXR SPAC link promoted on AFR and various media (why bother with the PR effort if it's for nought?)
29-Jul - MTAL lists on NYSE / VXR $500M market cap + rebranding
2-Aug - Diggers
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- Ann: Sulphur Springs Project Update
Ann: Sulphur Springs Project Update, page-35
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