BillyBoy,
It is my understanding (and I am often wrong) that the ABM board is required to approve such a potential transaction. Supposedly, (and I may be incorrect) the JV terms are such that ABM can still have IGO commit to phase 2 - A$6m earn-in without having to issue the shares to IGO..
If this is indeed true (which is my view) then the ABM board are actually under no legal obligation to potentially issue shares to IGO...
So ask yourself then, why issue the stock? Why would you?
MMM.. What a tangled web indeed..
oh, what a tangled web
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