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Ann: Results of Rights Issue, page-5

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nt_1973_au

8,069 Posts.

106

24/07/18

21:55

Post #: 34545132
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Originally posted by DealLooker ↑

And remember - $32,000 of the $130,000 was reportedly cash from the Professor (refer notice relating to settlement of debt to Koster) - another 155M securities issued (6% dilution to the majority that made a decision to not inject cash) and it appears the underwriters did not clear the $200k of their "related party" debt which was stated in the RI Notice, meaning leaving it open for more conversion at a later date.

So how far is $130k going to go - we already know at least $25k is to go to settle the dispute with Koster, then there are the direct and indirect legal fees, there is the cost of the raise, now into the territory <$100K - better find that Au real quick because it is not going to go far in drilling May River or Bolobip and laboratory analysis.

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they now have the equipment, just need to concentrate on production and put everything else on the back-burner, imho.

NIU Price at posting: 0.2¢ Sentiment: None Disclosure: Held
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