RE:spin=out of Silver CitySpining off Silver City I think is another brillant idea of the spin-off sheister Cahill and something he learned from his Pelangio days. For those who do not know Pelangio is a project generator company in Central-West Africa which exists by optioning out prospective exploration claims.
In Germany it is Globex who owns the claim over Silver City and they optioned it out to Exn. Now Exn wants to spin off Silver City in a separate company that will be majority owned by Exn. The new spinco Silver City will be an explorer and needs to raise money to drill. So, in other words future Silver City will be an option on an existing option without real assets whatsover.
In the news release Exn mentioned that they are looking at optioning out Platosa, but no mentioning of the only real assets they have, the plant which alone is worth more than the current MC. And the reason why they do not discuss the plant is because of the litigation which was totally avoidable.