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Ironpony

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20/09/16

13:04

Post #: 19281983
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Originally posted by littleblackduck ↑

How does the following suggestion sound like something that may be going on in the minds of our illustrious BOD.

MNC directors split the company into two so that one looks after the Copper Assets whilst the other concentrates on the Gold Project. Lets call the new company the one looking after the Gold asset.

All existing shareholders get an in specie distribution in shares in a new entity at a rate of 1 share for every 10 held. The new company then drops the number of shares on issue down to 430,127,577 which seems a reasonable base to start from.

The Copper company at the same time also conducts a reconstruction of its shareholding which aligns it in line with the arrangements they have made with CD Capital to reduce the number of SOI maybe a 1 for 20 reconstruction seeing the total number of shares on issues fall down to 215,063,788.

P.S. I'm very aware that such arrangements are destructive to shareholders as the reconstituted price never comes back on at the prorated rate and I'm not advocating for such an arrangement, yet! but I just wonder with the CD Capital deal for their 70% and how MNC need to fund their survival if such a play is being thought out and seeing what peoples thoughts are on this matter !

If such an arrangement was ever put to us shareholders I'd expect that for the deal to pass that all shareholder be issued with 1 option for every 2 new shares held at a rate that is 15% above the reconstructed price which would have a life of 5 years. It would then provide a great mechanism to raise future funding from existing shareholders who have been hurting with all the false starts this company has had should the tables turn as a means of rewarding these patient shareholders. Options would be issued to shareholders of both companies.

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I am not sure if your suggestion would float but at least there is more going on in your mind than what appears to be going on in the minds of the BOD.

We are a rudderless 2 pips from oblivion.

MNC Price at posting: 0.3¢ Sentiment: None Disclosure: Held
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I am not sure if your suggestion would float but at least there...

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I am not sure if your suggestion would float but at least there...

Top Stories

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Red Hawk upgrades Blacksmith with DSO mineral resource at the Eagle Deposit

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