I'm a new EXC shareholder... I'm somewhat confused. Why would EXC merge with a company that has no guaranteed way to monetise their resource? EXC is just about to go into production, although it is a small operation with a short mine-life, surely it would be better for EXC shareholder to collect this cash-flow as a standalone company?
The other point of concern for me is the Mitchell River Group, who as we all know is EXC's contractor. Surely they are conflicted here. Bill Fry and Alasdair Cooke are executives of MRG and also Board members of AWV - does this not smell bad to any other EXC shareholders??
Happy to be convinced otherwise.
EXC Price at posting:
4.7¢ Sentiment: None Disclosure: Held
