RE: 15 points on the Marula Prospectus19 Mar 2024 17:50
11. any debt accrued to q global or subsidiaries can be waived in exchange for shares?!?!?! this is for up to 6.25p per share? so over 50% discount to the current price? this can happen at any point between now and 31st december 2026? aggregate consideration for 147,800,000 shares is: £8,530,000. take away £1 million for drilling, £750,000 for one of the ore sorters, plus other potential costs leaves a total of: £6,780,000 minus any debts for services rendered to q global.
incorrect again – it only falls into the final discretionary tranche of funding converts at 10p, which at the time of agreeing the additional tranche was where we were trading – hence why it was agreed to.
and show me a junior mining company with anywhere near access to that £6.8 million of available funding.
12. i didn't factor in the tanzanian budget which is on the next chapter. leaves a total of £4.68 million less any costs for services rendered by q global.
yes and we have that tanzanian budget fully approved and funded across the graphite and copper projects.
again show me much at least a number of other junior mining companies that are also fully funded into this.
13. if q global get to 51%, they effectively have the right to never own less than 51%. they will be at 46.3% of the fully enlarged capital. that also doesn't include what they can charge marula for services rendered. going of previous history and acquisition of projects, a lot of the considering has been both cash and shares. i would expect some of those services rendered to be paid back in cash as well as shares.
not sure you’re opinion or expectations carry much weight and are close to reality or what is likely to happen given how wrong you have been on a lot of your so called research!
14. takeover panel rules are an absolutely nightmare to navigate. i have no idea how holding over 50% will further impact on marula from a takeover panel standpoint.
if you are going to make such a broad based comment on this then i suggest you at least do some research – oh i forgot , based on the above you are actually not too good at that are you.
15. how much are these total debts/services rendered going to be exactly? what mechanism is in place to regulate it? can q global bill whatever they like?
it depends entirely on what services are provided. but there are board structures and independent directors on the board which opine on this.
it also comes down to whether we need any services from them and as it stands at the moment and going forward, i’d suggest that is not really the case and that is despite them possessing some great mining, processing and logistics professionals as well as financing capabilities too.
*****on will be just one of 6 board directors and to suggest that they can bill ‘whatever they like” really is disingenuous to the board structures, the other directors and somewhat insulting.
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