Nuckles
Interesting thought, possible deal could involve shares for the assets and then MAK could distribute the shares to us holders on a pro-rata basis.
My thought was expressed last week, but would involve getting a bit more cash into the pot (cash is always good for developing assets).
Once BCD approve MAK conversion we BCD will have:
410 mil (original shares)
750 mil (MAK debt conv. shares)
-------
1,160 mil (Total)
=======
If BCD then have a cap raising/placement of say 250 mil shares at 4 cents a share (20% disc to current SP). That would put $10 mil in the kitty. MAK if they didn't participate would have 750 ml shares of now 1,410 shares (i.e. MAK still has more than 50%)
Then if MAK were to sell their Tasmanian assets to BCN for $10 mil, MAK would retain 50% plus interest through BCN, leave MAK closer to a pure RP play and get $10 mil back in the bank leaving MAK $5 mil out of pocket from the whole merry-go-round, but with substantial assets in a producing Tasmanian miner.
Note: I haven't gone back and looked at values of any of the assets, etc. just thinking aloud. So could be higher, lower, bigger, smaller, but you get the idea.
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