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.
AEV Price at posting:
32.9¢ Sentiment: Buy Disclosure: Held
