The points are mute in my viewThis is the chart thread so I...

The points are mute in my view

This is the chart thread so I won't post too long as I do know that any post here dual posts to both the MRQ thread, and also the chart thread

I don't know why people are so hung up on the $3m going into the JV bank account, it actually means nothing

The JV is FULLY FUNDED by SLC, so if it's coming out of the SLC bank account or the JV bank account it's really the same thing, the fact that SLC were paying up front BEFORE the JV was fully set up is a massive positive in my view

To date from the recent desk notes:

Sept 2024 - SLC funded revised feasibility study, engineering design, commenced equipment procurement, the JV company formed ~$200k expenditure USD

Oct 2024 - Drilling at Marao and then onto Corridor North, both these tenements aren't even in the JV yet, only after milestones passed

Nov 2024 - Signed contract for the Enviro, Social impact and resettlement action plan ~$500k USD

So to worry about them putting $3m into a JV account is just silly

IF you actually look at the JV deal it says:

"SLC has committed $6 million USD in INITIAL funding, with $3 million deposited upon transfer of licences"

$6 million USD is ~$9.6 million AUD

Then you look at the JV structure and what has been set up:

The Hong Kong JV company, Terriland, has been established with SLC holding 70% and MRG 30%.
Terriland owns 100% of Tailan Mining Ltd (UAE) which controls MRG's Mozambique companies
The transfer of MRG's Mozambique companies, which hold Corridor Central and Corridor South, was completed on 12th December 2024


The JV is up and running, the JV is now paying for things, MRG is paying for nothing, in fact they are still being paid by the JV, the JV is fully funded by SLC

I said I wasn't going to make a long post, but I did, sorry chart people