Ann: $6M Underwritten Entitlement Offer to Fast Track Ancuabe, page-26

Trying to remain positive fellow holders but this stock continues to test my patience. More and more dilution is NOT a good result for shareholders.  

So, after all the positive news and announcements released by the comapny after coming out of VA, 100% of Ancuabe resource covered by MOUs, significant cash injections, potential interest by other entities regarding Nicanda Hill.... we are now about 1c above the relist share price!    Have I got that right?  

From the announcement today. - ​

There is no guarantee that Shandong Tianye will have the funds available in Australia in time to subscribe for its entitlement.
WTF? They can't organise for $1.37mil to be transferred to Aust before the relevant date? Anyone else think this is strange?   

Here's just a snapshot of some of the company's announcements in 2017 regarding cash on hand and balance sheet. Make of it what you will.   

8 Feb 2017 - "Triton is well financed to rapidly advance Ancuabe with a strong supportive major shareholder (Shangong Tianye).

March 2017 Corporate presentation -  "Strong Board, Management Team and balance sheet to support rapid project implementation"

28/4/17 - "Company has $5.7mil in the bank".
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30/5/17 AGM Presentation - "Strong balance sheet to support rapid development"

30/6/17 Quarterly - "In July 2017, a strategic placement to cornerstone investor Shandong Tianye signed to raise A$1.23m" at $0.048c p/s and "At 30 June 2017, the Company had cash at bank of $3.4 million and 657,805,299 shares on issue."

28/8/17 - "Triton received $1.22 mill distribution from Creditors Trust"

30/9/17 - Quarterly "Triton has approx. $3 mil in the bank"

The company appears to be ripping through the cash.

DYOR

Biggles

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