RE:How do you folks read this - 1 or 2 seperate spin offs?
It isn't completely clear but I would suggest there will be 3 entities in total. 1) existing entity for proposed Framework with GSFI 2)new entity for Mg that will be upside opportunity contingent on 1) 3)additional 3rd entity for exploration to "prove" reserves for long term upside potential (20+ year reserves holding co) I actually really like the structure since GSFI still have an equity position in all the entities by virtue of existing share ownership plan but the focus will remain on the primary framework from entity 1) whilst likely fold in of entity's 2) and 3) will be supported through cashflows from entity 1) as a base case scenario Just initial thoughts...