Elphamale, I contacted Indochine this morning before they went into meetings, only two other small investors contacted before me. They couldn't speak long as obviously there is only a short time frame between arriving and moving into a meeting. Thus I assume you attempted to contact them at another time.
Obviously I could not ask anything that were not released in announcements so I got shut down at a few corners. Essentially what I took from the conversation was that the funding facility is secured and separate to the Capital Raising, as I said previously. In regards to the Capital Raising, the 15m mentioned in the announcement is an offer that is not related to the remaining funds.
Meaning the announcement should've said the following in my opinion...
Indochine announces an update on its equity capital raising with offers of $15 million to date. The Capital Raising is subject to raising a further $3 million to $5 million of equity within the next 7 days to complete the transaction.
My interpretations is that there are no conditions as many have been saying, which I do not understand. The only facts stopping IDC receiving the 15m is that nothing has been signed. I tried explaining this to the other forums but no-one took notice so I didn't bother and left it.
As always this is heresay, and no investment should be based on this information only that which is physically witnessed in announcements by Indochine Mining. Do your own research, and invest at your own risk.
IDC Price at posting:
7.4¢ Sentiment: None Disclosure: Held
