Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Message: Someone Help Me Understand

No Reverse Split in sight, TrueCanuck. Lots of misinformation on the other board... We are asked to vote tomorrow on the conversion of our common shares into Subordinate Common shares, on a 1:1 basis.

Subordinate Voting shares will bear a right to be exchanged into another class of share, the Multi-Voting shares on a 50:1 basis.

The MV Shares will have the very same rights as the SB Shares, but at a 50 times ratio (meaning that one MV Shares will give fifty parts of the Company whenever a sale or a distribution occurs, while one SV Sahre will give one part thereof.

Noteworthy is that the MV Shares and the SB Shares are interchangeable between them at any time, and with no conditions, so they are -a way to tell it- remaining in the same "basket" as regards to shareholding. The Basket will always bear the same weight but will be composed of a bulk of tiny and fat units or 'balls' of the same material... Sort of glueing the small pieces into 50 pieces bigger piece! No harm doing that. Ffrank took the annalogy of rolling dimes together: easier to carry...

The (declared) hope of Management is that many holders will exchange their tiny balls for bigger balls so that the float will be reduced and a market is soon created for the big balls. Advantage of the big balls are Institutions-friendly, and also that they are considered in brokers' margins.

That is about it.

Reverse Split? Not at all: everyone of us can keep its tiny balls intact and trade them as before. You wish to reverse spilt them to increase your naccount margin? Go ahead! Is our corporate structure improved after the reorg? Definitely! Who is happy to carry 700 000 000 tiny balls in a basket??? Better having a few hundreds of million less and attract the big boys!\

GLTA.

BaBe.

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