RE:RE:RE:Considerable dilutionI suppose there are a couple of legitimate complaints here.
One is that the 60 day MA is .17, so it should have been priced out at .17 or higher.
The other is that you can be sure that IMG knows a whole lot more about the deposit and its potential than the investor public. No doubt they have their own internal numbers for number of oz on the 43-101 for Diakha. As far as the public knows for sure, there is zero that is certain without a 43-101 and cannot estimate it with any accuracy like IMG staff can.
Now that IMG has to pay out only 75% when it comes to taking over the JV, let's hope they are a bit more generous than they were on this debt settlement. Otherwise, MXI would be smart to look for a better JV partner for Karita. In a lot of ways, IMG hasn't been a good partner......bloated costs, poor exploration skills, slow to disseminate information, slow to get any jobs done. I wouldn't recommend jumping in with in the future. Little guys need to run with the exploration longer anyway, and that is certainly true when considering how long things can take getting in bed with the slothful IMG.
By this debt settlement, IMG actually increased their ownership of Karita by 13% more. The irony is that Karita did not exist as an asset at the time this debt was incurred. That's a minor coup for IMG. MXI has to put a stop to that.