The old Hill 50 team runs MTX and BTX out of the same office. The last time these guys teamed up with GPG they extracted great value out of Harmony Gold for Abelle Mining. They hopped on board at about 25c and left at $2.95. Not bad these guys are continuing with BTX which came on at 25c last year.
Note if MTX floated the Mt keith Nickel royalty income into a Trust structure and managed it for a fee then they could pay a very large special fully franked special dividend. Such a sale to a Trust would not attract capital gains tax. If the dividend was 20cF or $10m then they would have about 20m remaining from the sale. Left in the bank would be over $41m or 80c per share, cash flow from Kambalda of between 3.2-4m until 2009.
MTX
metals exploration limited.
