RE: WEARDALE LITHIUM RTO?6 Nov 2025 12:29
I think whilst Wearside will be profitable for MAC, it won't be an RTO, they have assisted in their fundraise and taken a decent chunk of Wearside as payment. That could easily 5 x the current MCAP when it is properly valued, but also means that MAC aren't on the hook for funding if they don't want to be. MAC as a business is a boutique finance house and the last 2 big investments have been from financiers who are apparently looking to expand their operations in the UK, take a look at Stubben Edge. My expectation is that one or both will use MAC as their vehicle to expand, and at some point Weardale will provide a large cash return to the business as well.