We certainly have direction. All focus currently on Trinidad. If it comes of MHL are an expanding producer with everything they need to ramp up output.
Maybe they will divest Fury and Focus on Trinidad?
PS: They will have WAY more than double shares on issue. Currently 4bil shares and Market Cap $16mil
They want to issue 2bil($8mil at current price) shares to SOCA as part payment.
They then need minimum US$59mil to finalise the deal. Plus working capital for a total of $95mil.
If raised at 0.4c(it will be less), and if no con note or debt involved. That requires about 24bil shares plus the 2bil placement.
All up we go from 4bil shares to 30bil shares.
So existing holder will own about 14% of the new company.
Obviously we cant have 30bil shares, so a consolidation is imminent.
MHL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held