Based on the last placement at 10c for $3.5mill there were about 1 million shares in commission so probably around the 2 million issued this time.
On 19 August 2010 the LOI with Henan Jinqu was allowed to expire so negotiations could go ahead with other interested JV partners, so 3 months later they manage to raise a few pennies from a few Funds and sophisticated investors, who at this stage are nameless. Extraordinary it has taken 3 months to squeeze $7mill out of some Funds, all of course which will make the next quarterly look good from a cash point.What chance have we got of them ever raising the $110mill+ required that they say is needed / internally budgeted given now that we a GIANT deposit.We have probably already reached a 2nd generation of investors in this company, bring on the new blood whos pockets can be mined. There have been more twists, turns and dead ends in this companies history than in a good Murder Novel.
DYOR My ramblings only.
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