Quite a laugh when you think about the numbers .....
once merged MKO holders will hold 50.4% of the new merged EAR ... so for giving up 49.6% of our assets- 2.3mtpa plant/Camp worth 80-100mill replacement value / MOU Lease agreement that would have seen upwards of 10mill spent on BZW refurb...plus lease income of many million pa 3yrs+
MKO -JORC resource 521koz 1.8g/t
Now EAR brings to the table JORC resource 325koz 1.6g/t and some great recent drilling results (handy timing?)
You do get the feeling this merger is much to benefit EAR position as a future Gold producer to then be sold to the highest bidder(package the assets together)
in turn really helping EAR major holders with also major MKO holdings ...MR etc
And if MKO was purely being run to benefit S/H driving the bullseye deal along with other toll treatments (own ore) would see a much higher SP to holders than half of the new group ....unless we have a Buyer in the wings wanting the package deal ?
MKO Price at posting:
9.5¢ Sentiment: Buy Disclosure: Held