"Forget a reverse takeover, KEY has now been shown by this latest quarterly report to have been the vehicle for CM to do a backdoor listing of EGO's Canning Basin assets and a source of new funds to progress those assets via the sale of KEY's now non-core assets".
Gday Suandy70,
Fully agree, there is no need to do a reverse takeover now with the plan to sell off all non-core assets. It is very clear CM wants a big slice of the Canning, and KEY was an ideal vehicle to do that. It also explains why they only needed to do a small placement to SI's earlier this year, knowing full well where the cash was going to come from.
The EGO situation is irrelevant imo, and I would not be surprised to CM resign in the upcoming months as momentum gathers at KEY.
Cheers
R
the key changes, page-2
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