Small shareholders are stuck between a rock and a hard place. If...

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.