RE: Bacanora Email Campaign18 May 2021 11:18
As Bannor says, Economics trumps sentiment:
Mexilit is to initially have three directors, all of whom shall be nominees of the
Company. On completion of the REM Agreement 1 Stage 3 Option, REM Mexico will
be entitled to nominate an additional director to the board of Mexilit;
• the board of Mexilit is responsible for the day to day management of Mexilit and the
REM JV1 Concessions including management of the exploration and development of
the REM JV1 Concessions;
• shareholder approval (from the holders of 2/3 of the issued shares) is required in certain
circumstances including on the issue or grant of rights in shares, borrowing, granting
security, sale or disposal of any of the REM JV1 Concessions;
• if Mexilit issues a cash call notice to its shareholders, each shareholder shall be obliged
to contribute its proportionate amount, failing which its interest may be diluted;
• shares cannot be transferred or charged except with the approval of the board;
• each party has a right of first refusal in respect of the others’ Mexilit shares; and
• drag-along and tag-along rights apply between the parties in respect of any proposed
sale of interests to a third party
Those are some bullet points regarding Mexilit.
I'd pay attention to the cash-call, and the the 2/3rds requirement.
What's stopping Ganfeng from making it near enough impossible for Cadence to raise finance? Business trumps sentiment, yet Ganfeng are proving their ruthlessness.
It's entirely up to you if you disagree, but the response I'm receiving via email shows there are many that disagree.
Sign In
Follow the stocks
