This was discussed a few days ago here...
https://hotcopper.com.au/threads/an....5283424/page-5?post_id=43495351#.XnBpk6MzZ6s
If ADN start production (or PRE-production) and want to buy paper for the copier and MEP doesn't provide the LEGALLY required $1.35...then MEP may lose there 25%
It's not like MEP can delay or do what they want (THEY signed a contract)...MEP MUST put their 25% in at the SAME TIME. I'd assume a new acct. would be set-up.
It's all mute anyways....MEP can't afford the 25% of OPEX.
ADN will buy MEP out, there's really no other option now for them.
They'll be offered cash, as they need it (I'd say 200-400k) and X amount of ADN shares...
the thing is...with both SP down...it will be interesting to see the amount.
It's in MEP best interest to do it this way...no cash outlay and ADN shares/cash.
MEP has no leverage and ADN is in the drivers seat here on the terms.
ADN is going to have 100% of all 3 Halloysite projects very soon.
IMO
DYOR!!
This was discussed a few days ago here......
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