Fellow SH's the way I see it after reviewing MLM documents is basically:-
Highly dilutive RTO-no significant cash-very highdebt-problematic & risky project = Very Bad Deal 4 MLM = No Deal! = best deal is no deal =vote against all 3 resolutions
its a really simple and easy decision to make.
Melior top 5 shareholders have 80% melior,
Melior has not much cash would not surprise me relying now on debt facility and has high debt around $24M and increasing.
Merged MLM will have over 900m shares on issue and even if assume SP was say 3c then Mcap $27M that's gives DEBT : Mcap ratio of nearly 1:1 does that even go close to working in this market and outlook? No.... Duh
Great deal for Melior Bad deal for MLM
Another example poor judgment by MLM B&M....... yet continue...
If Monto Goondicum does not live to expectations (IMO likely) and fails they will just say oh well it was only based on resources and no reserves (yet the say Ore) based just on a Preliminary Economic Assessment (PEA) study with an accuracy of +/- 40% bit like a rough Scoping Study - this could be used as caveat see it was disclosed escape module.....
No one could possibly sign of being confident on just having an ilmenite (no zircon and or rutile valle heavy minerals) with extremely high slimes 40% - make no mistake as mentioned or indicated in the reports it has considerable risk and problematic track record and failure
IMHO and DYOR
