IBERIAN MANAGEMENT INFORMATION CIRCULAR : HAS ANYONE READ ITHi I'm new to this board. I am an investor in IML since reading David Morgans latest book (Second Chance). I took positions in IML since last November before I was aware of the spinoff of x-leach. Just read the MIC (hardcopy was mailed to me) and received proxy form as well. Its a good read, about 180 pages. I became aware that we are getting 1 share for every 10 shares we own. Well the total outstanding shares in the new company, Enviroleach Technologies, Inc. , as of today are 63,900,000 shares. We (the Iberian shareholders are only receiving 28,000,000 shares of Enviroleach Technologies, Inc.) which represents less than 50% of the equity of the new company. As of now, all of us , as Iberian shareholders own 100 % of the intellectual property, patents, and future earnings that are possible. In the spinoff deal, through a seed offering at 5 cents per share last year (yes the management and Board of directors all got up to a million shares at 5 cents per share ) and a private placement at 25 cents per share(earlier this year) w/ warrants ( and I was not in the inner circle and never asked to join) There was an added cash component to be fair but that goes to Iberian, not us. So in essence , after the merger we are being diluted by 50 % with the new company and all the technology patents, including x-mill are being stripped from Iberian and its shareholders. What are we left with? One machine stranded in Arizona and one Spanish property. Correct me if my thinking is wrong, but wouldn't it be better to wait to split the company until a later date and keep ownership of all properties under one roof. The cost of this spinoff, is in the millions, and much of the money raised will be burned up in the first year, for office expenses, managements salaries , and general fees and redundancies. For all interested Iberian stockholders, please have a look at the Management Information Circular (MIC) and let me know what you think. You can find it on the Iberian Minerals website under Investors / AGM Materials. Its in PDF format (I suggest you print it out for readability)