Are you serious? They have just had a $40m funding line pulled...

Are you serious? They have just had a $40m funding line pulled by Varde. Do you not think that is potentially a negative catalyst for the company? Not to mention the fact that the coy/mgmt have not said a single thing about it, despite the fanfare when they secured the funding line in the first place?

Who in their right mind would be happy to provide further debt funding for NCZ knowing that they sit behind Vardes first $60m that is currently fully utilised? I personally would be very surprised if anyone puts their hand up for that.

Thus, they will need to raise money. It is turning into the same sort of debacle as SYR, with a litany of capital raisings and empty promises.