MONGY... Just in case you might think posters forgot your outrageous lies and claims against SER Here's the proof what you wrote about SER is Bull Shit hope they sue you for defaming them I Cant understand how you keep getting other posters edited by mods when its you who are the problem hope the mods audit all your posts and put you on the sidelines for a rest and some reflection
Mongy this is one of your many false claims
Yes all true. The company now has distressed assets and open to larger companies that would be casting a predatory eye over them. It is possible that one of these will advance SER a loan in which case it will be back on the ASX. A loan condition will be that all assets will revert to the lender on default. The interest rate would be 20%+ with large establishment fees. Such loans are often accepted by directors because it extends the life of the company and their salaries and they hope for a miracle. But inevitably the loan is in default and an administrator moves in. The lender has priority over shareholders and the company is privatised, stripped of worthwhile assets and perhaps rebirthed as a private company. That's what will happen to VXL in my opinion, it defaulted on its loan and went into administration. Chimera capital will probably reopen the VXL plant. Shareholders get nothing. I hope that some HC members on this thread took my persistent warnings about the risks of the company seriously and got out in time. If SER does list again the share price will be around 0.5 cps. My opinion DYOR.
Here's the real report that's totally opposite to your dribble
6 June 2017
ASX ANNOUNCEMENT COMPLETION OF PLACEMENT AND CAPITAL RAISING UPDATE
Strategic Energy Resources Limited (ASX Code: SER) (Company) is pleased to announce that it has received binding commitments from professional and sophisticated investors for the placement (Placement) of approximately 52.7 million new fully paid ordinary shares (Shares). The Shares will be issued at $0.005 (0.5 cents) per Share. The total amount to be raised through this Placement is approximately $263,717 (before costs) utilising the Company’s current capacity in accordance with ASX Listing Rule 7.1 (Tranche 1).
An Appendix 3B in relation to this issue has been lodged.
Capital Raisings
Further to above and the Company’s ASX Announcement dated 15 May 2017, the Company proposes to issue up to a further 480,000,000 Shares as follows:
• 380,000,000 Shares (Tranche 2) issued at $0.005 (0.5 cents) per Share following, and subject to, shareholder approval at a general meeting of the Company, anticipated to be held in July 2017 (with permission to be sought for Directors of the Company to participate); and • 100,000,000 Shares issued at $0.005 (0.5 cents) per Share pursuant to a Share Purchase Plan Offer (SPP) proposed to be completed in due course.
The funds raised from the Placement and SPP will be used for the following activities:
• Exploration activities including drilling at the Saxby Gold Project; • Conduct due diligence activities including investigating the feasibility of mining at Ambergate; and • Working capital requirements of the Company (including general administration costs).
For further information, please contact the Company: Telephone: +61 3 9692 7222 Facsimile: +61 3 9077 9233
(20min delay)