the sp is low so more shares get issued as a result to get the cash as per calculation. Just a pity that we aren;t sitting at 4c or even the magic 17c. Unfortunately there was an exponential increase in shares that need to be issued as the price got lower to achieve the same result.
Mulligan was/is? a director of the private Walkabout Resources Pty Ltd (private) when it did the deal with Nimrodel. He then became MD of NMR - two differnet entities.
If the private Walkabout Resources PTy Ltd is indeed owned 100% by Nimrodel who gets the new shares? Will this be an inspecie distribution to shareholders? Why wouldn't the public company simply cancel the shares if it is worried about dilution but it controls the private entity?
Maybe you can shed some light on this scenario.
NMR Price at posting:
1.6¢ Sentiment: LT Buy Disclosure: Held
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