Hi Leroy - Exco gave a fair whack of the $175m back to shareholders by way of a special dividend and still retain all their other EPM,s plus the royalty payments form the Copper J.V and the gold mine profit - they only have 350m shares on issue and still have a market cap of 68m after giving shareholders a 28c fully franked dividend in November.
The capex for CDU is over $300m and was more than that amount for Excos CCP project -as you say the dilution for QMN to go mining from here would be monumental a 10 for 1 consolidation then raising $300m at 30c per share still gives you over a billion shares on issue.. and existing holders would only have 10% of their original number of shares !
Yes Timski go Morris Creek ! LOL
QMN Price at posting:
4.6¢ Sentiment: None Disclosure: Not Held
