Questions that need answering, page-61

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JasmineTea

377 Posts.

294

11/09/20

16:09

Post #: 47276311
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Originally posted by JasmineTea: ↑

All,

What all of us shareholders need to understand is there is a normal process that is normally followed for these types of transactions and that is not happening here.

Right now we have a statement that Barrick clearly states it makes no representations that this statement is true or correct.

My key concerns so we do not end up another WFE / VEC / ETC / ETC / ETC is:

A. There is potentially a massive environmental liability here. Where is a statement from Mali Govt that this is not the case. Where is an independent report stating what it should or might be?

B. The sellers have an obligation to their shareholders to act in their best interests. Barrick shareholder interests are not MLL shareholder interests.

C. The price paid in my opinion more likely to be USD 27 million not the USD 22 million as the negotiating power is all with Barrick and co.

This means between Euroz fee and a USD 27 million purchase price a lot less potential to do any exploration.

For me to hold my investment where are the basic elements that would protect us from buying a lemon here?

1. Independent valuation report on the plant? This is a basic requirement. When and who will complete this?

2. Where is the independent JORC report for what the inferred resource might be? When mining happens a lot of resource can be lost or no longer economic to mine. This is a basic requirement of a transaction like this.

3. Where is the assurance from Mali govt that they will not just take back the plant / environmental liability?

4. Where is the independent audit report on the financials / outstanding liabilities done by a big 4 accounting firm.

I find it concerning there are posters here posting information that has not been made public.

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All,

Great end to the week - just got home. Deal of the century and 16.0 cents a share.

High was more than 20cents a share so backwards 20% already.

Numerous questions still need to be answered.

My 17.5 cent sell for 50% of my position is looking very prudent right now.

I still want to know what happens if / when the stock price drops below 16 cents a share.

Does it putt he deal into question ? Does it cause a repricing of investor funds?

Have a great weekend all.

MLL Price at posting: 16.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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