Hi Sle,
Very good point about the options expiry in August. I had been positive on the Silica side of things when I originally bought into MHM, however I had not really seen any solid progress until this ann and the one before it so I put the project down to being 12-24 months away.
I am obviously re-assessing that at the moment. I think the most likely outcome will be that all existing MHM get 1 share in Silica Co for every x MHM they own.
Existing MHM will then form say 20-30% of the project. With another large chunk going to the cornerstone investor and another 20-30% raised via the IPO. (prob getting a bit ahead of myself for now, but that is what I would like to see).
announcement, page-8
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