In addition the board sounds very bullish on financing: The...

In addition the board sounds very bullish on financing:

The Board of Allegiance considers that there is a reasonable basis to assume the necessary funding for recommencement of production will be able to be obtained when required, because of (but not limited to) the reasons outlined below.The Company is engaged with several mining investment houses who are evaluating investing in NECC by: § Acquiring an equity interest in NECC, and this includes potential off-take partners; and§ Providing debt facilities to NECC.As advised in the 15 July Announcement, the agreement with Cline will incorporate a purchase price of US$1for all the shares in NECC, an upfront debt repayment of US$8 million in cash and US$3 million in Allegiance 17For personal use only shares, with the balance of some US$30 million of (subordinated) debt repaid from operating cash flow. These projected cash flows have been factored into the Study.The Company is also engaged with its shareholders, and several institutions who have expressed an interest in providing part of the start-up capital by way of a private placement in the Company.