I did post yesterday discussing the in-specie distribution.
IMHO the distribution transfers the consideration shares to the SPM shareholders, with the exception of CSD, so that SPM are not holding any shares in CSD.
When I first read the announcement I thought " but Ralph is still running two companies". As the day went on it became clear how this was to be rectified.
Ralph & Darryl have stated tin is the sole focus and one of the latest releases spoke of selling off the copper assets. So I figure SPM will only exist for another 12 months to provide income from BG ore while the tin circuit is built and readied. SPM would then sell off its assets and be wound up.
The end result being one ASX listed tin company (CSD)with SPII owning around 50% and Ralph running only one company.
PS regards my final posts last evening, I am known for my sarcastic humour, don't take me too seriously....
CSD Price at posting:
8.0¢ Sentiment: LT Buy Disclosure: Held
