blumont fails to pay for placement

Hey Guys,

Better read the announcement just released from RES:

Update on placement to Blumont
Following shareholder approval at the AGM held on 29 November 2013 for the Blumont Group Ltd (Blumont) placement of 102,596,530 shares at 22 cents per share, payment of $22,571,236.60 by Blumont was due on 4 December 2013. The funds have not been received by the Company from Blumont. The Company is taking action to obtain the funds from Blumont.

Doesn't look real good for Blumont getting funding for DML.

But maybe things will change for them by the time the DML deal supposed to be fulfilled.

Good Luck.