Ann: Marquee to acquire High Grade Cobalt Projects - Canada, page-38

Well done for getting in at shell stage and to early investors- great result. I’m assessing this as a buy opportunity at current prices, like I said- they are great assets- but MQR doesn’t own them, a GT ventures coy does. And until MQR are close to owning the assets (they are a long way off and no deal is done till it’s done) the current market cap fully diluted plus whatever the dilution is for cap raise to meet the conditions of sale- it’s too expensive for me.

I got those numbers from most recent August 3B, all quoted securities plus non quoted = 41M securities plus 11M shares from transaction announcement on 5th dec = 52M,
Then guestimated dilution of approx 20M shares (rounded to 70M) to raise sufficient funds to carry overheads plus money to develop the assets over the next couple years, and I assumed a discount because I don’t see the share price moving up from here.

It’s on my watch list and pending on price as they near actually owning the assets- I might buy in. I like Cobalt and hold multiple shares in the space, so good luck to all holders that this progresses well for you.