RE: RE: explanationHeavy, as we know the difference this time is that there will be 3 parties involved in the spin-off. Dianor will put it's 33% of all the Ekomiak properties (not Dianor's 100% owned PEM property) as will Metalex and Wemex (Cree's private company) into the Newco.
Metalex and DOR entered under a JV agreement in 2002 and Wemex joined the jv in 2006 (if I remember correctly). MTX and DOR have incurred more exploration expenses than Wemex so there could be a requirement that Wemex anti-up some money into the NEW CO to pay back the exploration expenses prior to their involvment. Fairs fair right. It will be intersting to see who the operators will be...I wouldn't expect it to be Dianor. This also might explain why the results of the mini bulk sample were postponed or perhaps it was just a matter of watching their pennies, you can speculate on that one. Having said that, our fortunes will be made in Wawa.
For example, let's say the parties agreed to create a 30 millions share new junior public company and all parties retain their original 33%
Dianor will receive, 10 millions shares of the NEW CO, distribute partially some of these share to its shareholders and retains some as a investment in the NEW CO, just like the 4 millions shares of Threegold that it owns...
Dianor's will then distribute shares of the NEW CO to it's shareholders, probably based on the prorata owned by each shareholder at the spin-off date, perhaps 75-1, but not if we are trading significantly higher.
Metalex will also receive 10 millions and do whatever they want with the shares... They also require approval from their shareholdersin for the creation of the NEW CO. I don't recall if they have paid their share of expenses.
Wemex gets also 10 million shares but will have to make some arrangement to make things equal based on preious work done on the property.