Have had time to sit and read the whole announcement. I agree with sentiment in that it looks like they are going all in to this project and will look to sell or do something else with their existing assets ('divesting'). If they were going to sell these assets then I would have thought they wouldn't need to cap raise with a prospectus etc for the 3 million they initially want. Hence to my way of thinking management might be looking at putting the mining assets into another company of id expect existing share holders would get a piece of this.
Time will tell.
MNQ Price at posting:
1.7¢ Sentiment: None Disclosure: Held