Ann: Offer to acquire Reward Zinc JV Interest,RXL-IMI.AX, page-41

Teck still own the 51% so i find it odd that RXL can call the shots ...wouldnt Teck have to have the say on what happens anyway being they are majority shareholder?

IMI essentially it says will only own 30% of the zinc once Teck finish (they only have to spend another $2.5 million so to get to the 70% so not like they wouldn't spend that to get another 20% based on how much they have spent alrwady)

so it doesnt really look like they are flushing Teck per se even if they wanted to as Teck is the major JV partner and will highly likely earn 70% regardless

Plus RXL get 16 million oppies in IMI to negotiate whatever the other tenement is they want so they own over half of IMI plus have all those options so it looks like its almost another ROX pretty much when you have Mulholland main board member plus half the company register

it looks like RXL were kind of fishing around for a shell to dump the zinc into it just looks like a crappy one on the outside however maybe they offered the best chance to get rid of all the existing directors and board members to start with a clean slate

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