That's exactly how I see it.
What will become DML, JRL shareholders currently own.
With all previous spin outs I've been involved with shareholders got In-Specie shares in the new company that was spun out.
In this spin out I'm getting nothing material for the parts of DML I currently own.
I have directly asked management recently about this and they were unable to give me an answer I understood. Issues mentioned were ASX and ATO, neither of which I understood.
So despite my positivity around the McDermitt asset of JRL, I am now out until this process is completed and I can re-evaluate a holding in JRL. I have no interest in DML, explorers with prospects are a dime a dozen.
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Ann: Update on spin-out of Australian Assets, page-6
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