Thanks seuss, good query. The board has made comment on the...

Thanks seuss, good query.

The board has made comment on the intent to simplify the historic cross ownerships, loans and so forth (sorry J8, no direct links, but feel free to review the MMR announcements and/or website). This perspective is not new, though legal disputes may presently both be reinforcing your point and restricting the ability to achieve that simplification of structure.

Remember also that MMR is a registered Pooled Development Fund. The PDF Act supplements the Company's obligations under the Corporations Act, and adds additional rules that must be followed. One of the potential benefits to shareholders of MMR being a PDF is that most shareholders receive capital gains tax free investing in MMR.

Thirdly, board costs have been essentially nil for the last ~18 months - Directors fees have been reduced to $1.00 per annum.