Riskreward, why do you say that NWT did nothing wrong? The lenders have clearly decided not to fund NWT. They obviously have their reasons and whatever they are I suspect they didn't just make them up. I also suspect it is much more than Mr Yap's stated "hypothetical issues".
Also, why would you say NWT has "tons of offers wrt the capital raise"? NWT has burnt every investor that ever got on board. It is clear that this is due to incompetent management, which is still in place. The last lot of institutional investors have all bailed and done their money, so no Australian insto will go near it. Any savvy investor would look closely at what has happened and steer clear. They might even ask why have the lenders pulled their funding?
I suspect this article will be Gresham backgrounding the journalist and putting them onto Yap who is saying there is plenty of funding around. Some might call it putting a positive spin on a very difficult equity raising.
NWT Price at posting:
14.5¢ Sentiment: Sell Disclosure: Held
