Spid81 NME have 14k in cash in the bank, 750k in finance from the MD (Short term funding). So this will have to be repaid if spent plus the borrowings from proceeds will probably be covered by the tax return. I'd say the funding is being used by now. That won't cover any exploration costs or the bill of 1.3m if NME have to pay, find out in November. They also need to carry a few qtr's of funding at all times or ASIC will be asking for a please explain. You do the math on expenditure and they only just meet criteria atm with the $750k funding that is. They certainly must raise capital. The tailings, it may not be very fruitful tbh. Looks like they are looking into another company or party to process the tailings which eats into any profit and goes against original plans to have a processing plant. The concerning part for me is just about every deal that Nex has been party to has ended up in court.
NME Price at posting:
3.6¢ Sentiment: None Disclosure: Not Held
