Ann: Renewals of Exploration Licences Not Granted, page-11

So, an interesting couple of days of announcements:

28 August - NIU receive "show cause" notice from ASX
29 August - NIU announce "positive" news to market (good butter up there! not reflected in SP though)
31 August - NIU answer ASX notice
31 August - NIU announce loss of 2 high potential assets 'Bolobip' and 'May River'

Dick Tracey must be looking for a way to cool down his office about now (IMO)

Last year the Professor and Dick Tracey discarded TNT Mines (IMO - DYOR and calcs) at a huge loss, in the process writing off a fair chunk of debt that was owed to NIU, and to top it off Shareholders got NOTHING!

In less than 12 months there have been 2 Wind-Up Applications made to the Courts, one settled from proceeds of TNT and the second from the recent CR (conversion, dilution, etc.);

A declaration of a significant 'debt' and now surprise folks a refinance agreement that was not disclosed to the market, another continuous disclosure trap potential (IMO - DYOR)

The loss of tenements typically results because one failed to comply with the obligations, mostly expenditure and community, for how long has the CR story been related to the "never occurring" drilling at Bolobip and May River, exactly "the never ending story"


Last year was the third year in a row that shareholders voted AGAINST the remuneration report, three years in a row the Board ignored the message, what pain are they going to take for losing these tenements?

Sorry folks but I have to bring in three quotes from tv shows now...

1.  Porky Pig - (I can't spell the starting bit but) ... 'That's all folks!'
2.  Big Brother - 'It's time to go ... (the necessary 3 second pause) ... Board and Dick Tracey"
3.  The Apprentice - 'Board and Dick Tracey ... you're Fired!'