i dont get it, page-11

I don't normally post on this thread since I got burned big time in this share... ($6 -> $1.50).

But it is clearly obvious that Glencore are likely to take this over soon.

The courts have held:
A corporation cannot issue shares for an improper purpose (such as to increase or entrench a majority shareholders position). It would also be a breach of a directors duty, s 181(1)(b) Corporations Act.

Isn't it such a coincidence that MRE claim they need to issue shares to raise capital at a time when debt markets are closed. A good excuse for the outcome. I really wonder how hard they actually tried to raise the capital that never eventuated and hence required a rights issue.

At the end of this matter Glencore will command a special resolution. That in itself is telling.

Read between the lines.

Strong buy.