The question really is why he has chosen QBL? 1. Potentially the...

The question really is why he has chosen QBL?

1. Potentially the south Johnstone area farmland good for crops win / win as QBL is just interested in mining not crop growing.
2. This American New York institutional investor is/are they someone with deep pockets to bankroll an IPO and do they have some star power that has been secured through the Feldman / gutnicks connections etc.
3. $6m cash if they want to keep the 55% stake they could presumably spin MCL out in IPO with $3m maybe little bit more MCL may list with $5-10m cash and on options they'd still have the $5m to bring South Johnstone to production. Presumably on MDL approval options will be at excise price.