From what I read in the report on mcgrath nicol website that alt finance pty ltd are proposing existing shareholders retain 8% of the new commpany via shares and alt finance will have 92%. The report also says that alt finance are putting up only 225k for this proposal which seems to me that they have no intention of pursuing any mining activities and it is only the asx listing that they want. My view is there is no way a company should come in and retain 92% for only 225k, shareholders would put up alot more money than that for that type of ownership. I am not sure if I haven't got my wires crossed with any of this so if anyone was involved in the meeting could shed some light that would be great.
RES Price at posting:
6.4¢ Sentiment: None Disclosure: Held
