RE:RE:RE:well, one or two reasons I believe that1...They still have several millions in operating cash....they will need the larger financing for full HD mine development
2. Even from their NR, Videos and CP, there are significant ongoing asset developments including upgrading the Pine Cove Mill, tailings/ mill fines have been recovered and monetized , others still being recovered from mill and agggregate site etc
3...MAE has the TSX listing which Firefly needs, as Firefly has loaded up its BOD with Canadian specialists ....another good reason for a merger.
The most pressing need ...as already expressed by Tolling MOU...is , imo , NFG as early mining of its
high grade open pit discoveries cannot take place in the absence of excess capacity of MAE's gold mills ...NL Govt Forbids external processing of NL resources.
So, it can be stated with near 100 % certainty that NFG will exercise this MOU....only the timing remains uncertain .
Much like the economic benefits which would drive a merger of Firefly and MAE, similar economic exigences exist for a merger with NFG.....in both cases , takeover would be the alternative .
Id be very happy with NFG or Firefly shares.
Institutions/ insiders own about 50% of MAE shares including Sprott.
Re the latter, I recall Sprott paying 20 cents for some of theirs....I will check that
GLTA