RE:RE:RE:RE:RE:RE:RE:ESEI expect we will have one final extension with RIO, allowing them to buy-in and raise their ownership % up to 9.9%. Based on current shares outstanding and RIO's current ownership %, there would need to be about 3.8mm new shares issued to RIO. Proceeds would be about $5mm USD.
Mitsubishi would likey be allowed to keep their pro-rata, which means they can buy about 190k shares.
It is good to see that the Casino road (front end of the buildout) has been completed. Things are progressing nicely. In the next year we all hope metal prices cooperate and that the true value of the project starts to be realized. Once market sentiment pivots (WRN at new all--time high prices), then buyout talks should start to get serious.