Presently the major Institutional shareholders hold a total of 169,526,199 shares as shown below, or 36.77% of Energizer Resources 460,995,713 issued shares which indicates their confidence in the Molo graphite project.
VR Capital holds 40,033,713 shares of Energizer Resources.
JP Morgan Chase holds 33,428,200 shares of Energizer Resources.
Dundee CMP Funds -which includes Goodman and Sprott- hold 96,064,286 shares of Energizer Resources.
Under the assumption that Energizer Resources required a further $7,950,000 for Phase 1 and other enhancements of the Staged Development Plan:
The issuing of new shares at $0.065 each would add 122,307,692 shares to the Institutional shareholders holdings for a total of 291,833,891 Energizer Resources shares.
Energizer Resources would then have 583,303,405 issued shares and the Institutional shareholders would hold 50.03% (say 50%) of Energizer Resources issued shares.
The Institutional holders would surrender their shares to Energizer Resources to obtain their interest in a 50% JV interest and Energizer would hold the surrendered shares in her Treasury for her part of future developments at Molo.
After the JV partners surrender their ~291.65 million shares to earn their 50% JV, Energizer Resources shareholders would also hold ~291.65 million shares, which after a 1 for 2 reverse split would leave ~145.83 million issued Energizer Resources shares and a similar amount in her Treasury.
One must consider that with a 50% Molo JV, costs would be shared equally.
As graphite demand grows and considering Molo's Proven and Probable Reserves, it would be easier for a JV to increase production above the initially projected annual rate of 53,107 tonne over a life of 26 years. In addition Molo's Measured and Indicated resources would be converted to Mineable Reserves as required.