RE:We are buying them??? I can offer some thoughts. This is the first step in the CEO's stated intention to build (through merger and acquisition) a substantial business as he had done in the past.
MLR shareholders will own about 65% of the combinded company and in return get an entity with cash, a receivable, equipment of interest, several small projects and prospects.
The combined company shares will trade on the Australian exchange (no longer on TSX-V) where Metallica enjoys much greater liquidity and where the audience is more familiar with mineral sands projects and the thinking is therefore that the shares will become more liquid and attract a following.
Pala and the other major shareholders are supportive of the transaction and have entered into a lock up in favour of it.