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.
refinance, page-5
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Last
82.5¢ |
Change
0.010(1.23%) |
Mkt cap ! $92.38M | |||
| Open | High | Low | Value | Volume |
| 81.5¢ | 86.3¢ | 81.5¢ | $230.2K | 273.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | 82.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 84.5¢ | 8000 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| MMC (ASX) Chart |