RE:Asset SalesKarita needs $2 million + for a good start. The only asset of value that MXI has is Jubilee, a zinc prospect on the east coast of Canada and there is no way it would be worth anything like that. Moving ahead on Karita will have to be dilutive, but at least the stock price has been rising and dilution won't hurt as much as in the past.
As far as potential buyout goes, this is certainly a logical juncture for it to happen. When we see on this week's NR the massive number of prospects on these permits, this is no longer a play for a tiny junior, it's a big company play and it will take many years to develop it. So MXI has outlived its usefulness to the JV and really should move on to more speculative prospects.....like Karita as an example or something elsewhere. Still, it's hard to say what IMG might be thinking but they must realize that with every drill hole that is active at this moment, the JV gets more expensive for them to buy out.
I think you are right though wreakhavok, when we hear about the direction of Karita, we will understand the big picture as to where this is going this year.