announcement, page-20

no real info IP, the 500mill number has been mentioned a few times in media.
One fictional scenario might be we spin out a CO with IPO to gain a 20% stake in the project. SO need to raise 100mill. What would that Company be worth and how might that be done?.

One scenario the IPO issues 1 share for each MHM share with MHM holders gaining 20% of the register....say 500,000 shares on the register of the new entity.

What would that Co be worth? - you would have to assume the 100K for the stake in the plant would be worth 50% more than that on projected earnings to be a goer and with the new Co also earning from long term Silica and Charcoal supply contracts? - another 100mill min imo. So this Co should end up with a MC of 250mill. So initial IPO might come in at say 25c raising the 100K by issuing 250,mill shares to a cornerstone and 150mill to institutions.

On listing its 25c but will go to 50c once up and running. All the above guesswork as i don't have a clue what these smelters earn or what the supply contracts are worth. With these big projects resting on long term contracts the insto's would love it. Always saw the Silica as a distraction myself but happy to get some free shares in this as it has no value in our current MC.