well, at the moment, the company is not in a position where...

well, at the moment, the company is not in a position where "non-insider" investors can make very informed decisions because:

1. the company will basically have no cash by 31/12/17 because it must pay $1.9M in November for the option fee plus will have used up most of the remaining cash in admin & costs

2. the company needs to raise at least AUD$20M by 22 May 2018, which is the exercise date for the option on the deposit

3. the company has said it may bring in equity partners but hold the controlling interest therefore, given there is a 5% ownership claw back, MYL may hold 56% of the deposit & the equity partner 29%. this means MYL must pay at least US$13.2 or AUD$17.9 to exercise the option plus raise at least another $3.1M for working capital. therefore a minimum raise of AUD$20M is required by May 2018

4. therefore, i imagine, insider investors are negotiating for the capital raising price, which will probably keep the market share price in limbo for a few months until the capital raising price is finalised

5. imo

from annual report:

Summary of the Option terms

• Two payments of US$1.5M each, due in May (paid) and November 2017

• Exclusive option to take a controlling interest in the Bawdwin asset from current owner Win Myint Mo Industry Co (WMM)

• Exercise date 22 May 2018 for US$20 million that represents compensation for prior expenditure on the tenement by its current owner

• At exercise, WMM retains 15% and incoming parties 85%

• Post-feasibility, WMM may elect to claw back a further 5% by pro-rata payment of costs

• MYL may bring an equity partner but will retain the controlling interest

• Approval from the Ministry of Natural Resources and Environmental Conservation is required to allow MYL and any equity partner to participate.