Bratt you raise a valid point but at this stage there are too many unknown variables as to what will exactly happen. The way I see it a few things need to be finalized before we will know the exact co structure:
1. Need finalization of DD and sign off - expected this week.
2. Will Epat qualify for any CSRIO funding, at this stage the chances are high given they were one of 12 co's selected as part of the Accelerator Program. Question is how much will be granted.
3.Will MNQ sell off their copper assets in Canada - 2 options here are sell them off or use them to spin out the assets into another co.
4.Points 2 and 3 will determine how much if any will be needed to be raised as part of the 3 mill. The higher the SP before the placement the less dilution required and in turn consolidation probably avoided.
We do know Patersons will be responsible for this placement. I have a question for the RAP guys, was Patersons responsible for their initial placement at the 1-2c mark because that insto would have been pleased with their return on initial investment. If I were MNQ I would be knocking on their door and selling them RAP2. Certainly interesting times ahead.
MNQ Price at posting:
1.8¢ Sentiment: None Disclosure: Held
