I think in the current credit constrained climate it makes a lot of sense.
The overhead of just keeping a company running is quite signicant for a company with small mkt cap. Given they have 3 directors in common it makes sense to combine from an administrative point of view - cost savings and simplicity
and strategically - the combined entity can say lets focus on Wonarah while delaying effort on X.
As shareholder in MAK I just want all the focus to be on getting Wonarah up - the rest can wait
If Wonarah is successul then all the other goals of MAK (and BON) become possible.
After initial hesitation I am now very positive about this
scrip offer for bonaparte diamond mines, page-112
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Mkt cap ! $11.74M | |||
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