Red Metal Banter, page-414

Yes, after posting that article I was starting to feel a bit apprehensive. RDM discovering rare earths and controlling 53% of Maronan is a recipe for disaster for shareholders of both companies.

A hostile takeover of RDM at say $100M tomorrow (double your money overnight) would be very attractive to a good percentage of shareholders, who would say thank you and move on to the next stock.

Maronan with silver at US$40 which has a better than 50% probability of occurring in 2024 would have to be valued at $3. The Maronan resource is 30% larger than SVL's resource when measured on inground value and SVL's market cap is $256M and MMA's $46M. With silver at US$40 I would expect SVL's market cap to possibly triple to $750M. Maronan at $3 would be valued at $480M (Disallowed). At $3 per MMA share, the value to RDM would be $1 in share price ($300M).

Then you have Sybella and god help us if some good news comes out of Yarrie. Potentially a dead company walking. Gone before realising any of the potential upside.

So as the coming drilling and lab work news starts to hit the market, the risk of a hostile takeover would have to be a concern for Rob. The Maronan potential upside is a major reason why I expect Rob not to go for fast bucks for Sybella by selling MMA shares. He knows the potential upside because he has owned the project for about 20yrs.