I reckon both vml and iii would have to be vulnerable in terms...

I reckon both vml and iii would have to be vulnerable in terms of MC versus 'in-ground' resources (NQ tungsten only).

I wonder how many shareholders would accept, say
.25c for vml shares
.32c for iii shares

this would equate very roughly to about
AU$33.5M for vml
AU$21.1M for iii
add say $35M for a new high capacity plant
and say $30M to get the granted leases operating.

~AU$120M might gain ownership and control of about
US$1.5B worth (conservative?)of WO3 which could be mined over 6-10 years.

well below reasonable npv's for the combined projects?

happy shareholders?

or would a purchase of the assets (excised) from the companies be more likely.

feel free to voice opinions if this sounds like a whole lot of garbage.

at the very least i reckon watershed (VML)would have figured in some discussions concerning Mt Carbine.

MLM via QOL and Wolfram Camp I don't think would be interested, unless they have far more aggressive plans than i suspect, for Tungsten in NQ.
they have a nice, high grade little show (~1MT @ 0.4%)
the plant which MLM picked up so cheap through acquisition of majority of QOL does'nt have the capacity to process these sort of tonnes, unless i'm mistaken.
db64 may be able to correct me on this one?

how much does MLX want to be in WO3 i wonder.

how much 'whippy' does polymetals have?