I think if the first US$36m is paid after shareholder approval, the next US$20m will also soon follow. That should give shareholders close to 35cps return and leave the company funded to progress the lithium ground currently held and look to expand whilst the li market is going through a downturn.
The company also has the option to accept the future royalties payments as a US25m payment.
The market seems not to be convinced, yet they spin out WR1 which went well.
Worth the 2-3month wait to see how this goes imo.
It will be interesting if any of the other 11 companies which expressed an interest in the project lob a counter offer.
MTC Price at posting:
25.0¢ Sentiment: None Disclosure: Held
