Hi folks
Im following and trying to understand the story here.
I'm interested to understand holders thoughts on the Farm In Agreement to sell 49.9% of the project for $10mil to BMD for just getting to PFS stage.
Why would Management and Shareholders support this...…..given I have read that $35mil has been spent to date...… and if you think a $100 - $200mil MC is where this should be...…..why give away half for $10mil????
Surely they could access 'new pools of potential investment capital' without giving away half the project to a subsidiary of RFC Ambrian??
All IMO
MGT TAKEOVER?? TARGET 4B Tonnes iron ore, page-9
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