RE: good news coming6 Mar 2023 20:53
I think this agreement was made before any drilling started …could be wrong.. so don’t think Med. will have known what any samples looked like at that stage.
What ever one’s stance, positive or negative, it’s a handy bit of business by PJ. Less than 1% solution for shares holders with the chance they could strike lucky.
If results are bad then this drilling outfit won’t go for such a deal again and May have to wait years it for ever to get their money back. They now have no choice but to be patient or cash in at less than half the cost. PJ provably encouraged them to quote high so they’d be more willing to accept this arrangement knowing they were getting a decent mark up and 50% in cash would actually go a long way to covering their costs, reducing their risk. Who knows.
PJ being quiet could mean anything but it states somewhere they don’t expect to have a JV partner for MFC and one other place (can’t now recall where) for two years… which suggests to me PJ knew full well this first drilling campaign wouldn’t be the one to unlock the treasure.
We’re staying above a penny, for now at least, so I’m grateful for small mercies as I’m rather badly in the red now.