RE: BCU Proposes Spin-Off TransactionThis is what I've been hoping/expecting Bell should do and it should be very good for all shareholders. If I read and understand this correctly, every Bell shareholder will get 25% more (shares, warrants etc.) than they currently hold with the creation of this new company. Kabba and Sombrero will become the main assets in a new company where the release states "there will be no change to the captial structure" that exists currently in BCU. So, in essence, it will be an exact mirror of the current BCU structure as to shares, warrants etc. The residual Bell Copper will hold La Balsa and Granduc as it's core assets and every shareholder will (after the 4 for 1 rollback) also hold 25% of what they currently own in shares. warrants etc. in this company.
Net result is a 25% gain in holdings/exposure for all going forward on completion of this transaction.
I'm not sure what the absolute latest on Kabba is (although my understanding is that all is VERY good on that front), but it has been my hope and expectation all along that if there is a discovery at Kabba that Kabba should be spun out as a dividend on it's own to best maximize returns for shareholders.
This is what it appears that they are doing.........
Gryphon