Why would you have to go one by one? They can just merge them all at once with a fraction of the paperwork and avoid screwing up the corporate structure. Plus it would get them liquidity MUCH faster to do it all at once which is what they need right now.
Going off the company structure and funding targets at this link, there are parts of the business that are not fully funded yet and maybe not yet ready for merging (complete conjecture on my part). See slide 9 (left) and slide 6(right): https://www.schatziexploration.com/ameca-group
Funded Schatzi (Explore) Ameca Mining (Mine)
Current Funding Targets Ameca Supply(Supply) Ameca Learn??? (Listed as R&D/Develop on the slide but isn't on chart key, they'll probably fix this soon)
I'm not knowledgable enough to know what is able to be RM'd at this point but it seems like they have a forward looking timeline. They do say, "AMECA Group was created to i) secure full control over all aspects of a mining project and ii) realize the upside of additional downstream opportunities. It is composed of Schatzi Exploration, AMECA Mining, and AMECA Infra."
It mentions Ameca Infra being under Ameca Group which is a future funding target, Mining and Schatzi are already funded.
Looking for futher PR straight from Mark to shareholders to paint a clear picture of what we've bought into here, but I feel great about what's happening so far.