Melinvest I believe you may be on the right line of thinking there.
In my opinion, Melior and whether they get their Goodicum mine up and running is simply distraction from the main game. Nothing more than subterfuge.
In my opinion, the main game here is Pala having shopped the ASX looking for a “lame duck” company in order to gain a backdoor ASX listing from which to mount further M&A.
Melior is implementing a targeted M&A strategy to lever off the technical,marketing and financial capacity of Goondicum to build a growthportfolio of industrial mineral assets.
http://www.meliorresources.com/company
Why do I refer to Metallica Minerals as a lame duck?
Since this Board & Management sold the SCONI project what are we left with?
50% of a small HMS project
50% of a small Bauxite project
100% of a small silica sands deposit, yet to be adequately assessed as to the viability
100% of a graphite deposit, again, yet to be adequately assessed as to the viability
The previous Board & Management, under the leadership of Andrew Gillies, had the vision and drive to realise the potential of the SCONI project and had put in place a staged progress to produce Scandium Oxide, at a vastly reduced startup cost and stock pile nickel & Cobalt until market prices recovered.
I believe these small projects listed above were defined as low capex, low opex with early cashflow to assist, with the sale of non-core assets, in keeping the company buoyant through the downturn and allow the company to progress to stage 1 BFS of the SCONI project. (Five years ahead of where all the other Scandium companies are now)
Worth a read, to have some understanding of the capabilities & drive of the replacement Board the action group is proposing to install to stop the rot and get Metallica back on its feet.
From memory, I recall Mr.Gillies halved his own wages during the down turn to assist maintain company cashflow.
For our company to survive and prosper:-
This takeover has to be stopped!
This Board & management need to be replaced!
