a going concern

Some of us shareholders were concerned about page 16 of the full year statutory accounts,were its pointed out that these current financials cast some significant doubt that the company can continue as a going concern.

I have had a good read now and would like to point out a few things.
Page 22 is what we should be reading,were the company explains itself.
Point 1
The company is negotiating with various sophisticated investors to secure up to 5 million $.

My veiw is with nme appointing Mr Hock Hoo chua as a non exec director in charge of fund raising,Im confident the funds will be raised.Surely no one gets appointed if they cant get the funds IMO.

Point 2
I like this one
The company is in advance stages of development of infrastructure and capabilities to commence PROFITABLE mining operations at its Kookynie tenements.This is estimated to generate positive cashflows in 2011.
If you want to see how close they are follow the below links and see see where the money has gone.

http://www.youtube.com/nexmetals
http://www.asx.com.au/asxpdf/20100802/pdf/31rnvf7l50dxz5.pdf

Whilst directors are confident in sucuring funds,if sufficent funding is not raised,the board is able to reduce ongoing costs and commitments accordingly and IF necessary,sell or farm out projects to enable it to meet its ongoing requirements.
Accordingly the directors believe that the company will obtain sufficient funds to ENABLE it to continue as a GOING CONCERN.

The directors are confident and thats good and from what i can read between the lines they have a few options up their sleeves.
I'm still positive on this stock as a going concern and i'm looking forward to a positive 2011

regards rusty.

PS IMO the smart money is picking up the shares at .14-.15
Good luck all.
Lets hope it starts picking up after the meeting on the 25th