RE: Will be speaking w/ Dunbar The timeline on the scoping study is likely on schedule to be released prior to the AGM in December. I am not concerned about the timing of the scoping approval and release.
What I am concerned about, as previously stated, is the give-away financing to Western Areas (WSA,tsx) especially at a time when MUM was well on its way to at least 60 cents per common share. The dilutive deal for MUM shareholders has taken some steam off the share price advance.
The deal is done, okay. All agree that WSA was given a gift. Well over 20% ownership of Mustang Corp on the cheap. Now MUM moves on. The best event that could happen is a revision to the second phase of the WSA deal. That is, a much higher strike price on the $2 million worth of warrants, i.e. 75 cent strike price per warrant as some very knowledgeable investors suggested on this forum over the past couple weeks. If that revision was to occur, I believe all parties would be more happy going into Mustang's AGM.
bugbee