Ann: Doray Minerals and Mutiny Gold to Merge, page-27

The complexion of this deal is not all together clear. The bidder (DRM) wants to reach the compulsory total acquisition threshold of 90% of the target shares (MYG). That is a takeover. In that event you would expect the board of the target company to be dissolved. Yet we are also being told of a merger whereby MYG would get a $3m loan from DRM to get to work on Deflector. So when all said and done will this just be one company (DRM) run by a single board, or will it be more like a marriage of two with both retaining their own boards.I know that on the face of it this does not make much sense, but at the same time you cannot ignore what is suggested between the lines. Should it be a twin board model then we are stuck with the same old albatross around our necks as before. i.e. top heavy with fat cats, whose greatest achievement has been making a meal of shareholder funds. Unless this issue is clarified and resolved forthwith, I cannot see how this takeover or whatever it is will be of any benefit to shareholders. Significantly the market today was also skeptical.This consideration may have figured.