MMC 9.44% 98.5¢ mitre mining corporation limited

refinance, page-5

  1. 307 Posts.
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    Small shareholders are stuck between a rock and a hard place.
    If the deal goes ahead, MMC have funds for 1 more year but effectively have to surrender the company to Sentient.
    If they ( Sentient) hold 65 % of the shares, they control all decisions unilaterally. That may or may not be a good thing.
    Massively dilutionary also, value of our shares is halved.

    If deal doesn't go ahead, then its likely they have to sell the asset , and shareholders get the proceeds.Unless they can raise working capital another way.

    Either way, not good for small shareholders.

    Can't see much upside, but maybe ? a smaller share of a bigger pie is better ( as in, developing to the mine stage)

    And then , what happens at the end of 2014, when they're out of money again ?

    Which way will the institutional holders vote do you think?

    This changes the playing field considerably.

 
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Currently unlisted public company.

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