agree to some extent but the resolution was passed by the shareholders on the 3/3/2011, I checked the announcements, maybe do the same, so no approval necessary anymore as far as I can see. Teh calculation is also in there. The $1.5m was priced in fromthe start.
I actually don't mind the $1.5mill as it is payback for the vend, its the massive dilution in shares that I am worried about. If NMR would trade at $1.18 then the shaes would have been divided by $1 and Walkabout waould have been issued with 1,5m shares.
I also liked the fact that we diddn't have to worry about a capital raising which would have diluted our shareholdings until this beauty popped up.
Unfortunately due to the market and the almost total lack of promotion we are going nowhere fast in total contradiction to our new name!
Now Walkabout Resources Pty Ltd basically control the company which may have been the plan all along. With the departure of our ex MD and the new MD's appointment (who was involved with Walkabout R Pty Ltd, not sure if he still is) and now a very very similar name change one can;t help but wonder sometimes.
NMR Price at posting:
1.6¢ Sentiment: LT Buy Disclosure: Held
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