I would call it "not an exploration arm of MLX" Re Nico float as I understand the last announcement
25m Nico shares to MLX for Wingella - earmarked for transfer to MLX shareholders
Then 50m /60m share issue by Nico for IPO
MLX to subscribe for 20m of these, 25m free options
MLX investment is $4m ( 20m X 20c)
So MLX would end up with 20m shares out of a total of 75/85m SOI .And have 25m options
28 -23% shareholding in Nico And no escrow period so can be sold down to 19% to avoid equity accounting. So Nico can go on it's merry way, just like CYM
Are these the facts? I don't mind being corrected
MLX Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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