Ann: Arena Statutory Demand, page-21

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lakota6

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07/11/18

09:12

Post #: 36412489
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Originally posted by Davisite ↑

I don't think the shareholders need a pile on from non-holders right now telling them that it was a bad idea to invest in MUS/NXE. If there is to be blame attributed it should be at the board who is responsible for this entire mess.

I suspect that MUS/NXE never told Arena they were selling off the ruby assets before they did it. They would not have been impressed with CJ/CVW getting the cash while MUS got script from Fura. If they had wanted to invest in a graphite/vanadium resource there are dozens of other companies out there that they could have invest in, it was the rubies that were unique to MUS.

Arena certainly are ruthless. Chosing now to demand their money back puts NXE is a near impossible situation. They will get paid as NXE does have assets, but I don't think the shareholders will see much after this is all finished.

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It is the Company’s intention to repay in cash the amounts it considers to be owing to Arena (including all interest) as soon as possible and the Company is actively engaging with potential investors regarding a refinancing and repayment of the Arena loan. Arena currently holds notes with a face value of A$2.5 million (excluding interest of approximately A$104,000)

I wonder were they thought they were getting the $2.5M from ?

NXE Price at posting: 7.3¢ Sentiment: Hold Disclosure: Held
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