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K yes it is always disappointing but I posted this the other...

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J.W.Pepper

5,924 Posts.

394

12/01/17

11:19

Post #: 21843056
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Originally posted by karlremb ↑

I will have to say that I did not expect to see another cap raise ,we had enough money to get the new plant and equipment and to carry us through till it was all installed and operational. What I don't get is our forecast profits should have prevented us from having to do any further cap raises , I really see this cap raise as unnecessary ,why couldn't they just have been a bit more patient and waited till it was all operational,and us the profits once operational .i would have rather management delay the tin drilling 3 months and use that money allocated to the drilling and use that money on plant and equipment or as a buffer until operational .And to top it off they get it at an even more discounted price then previous cap raise wow what a vote of confidence that is . Not a happy holder atm

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K yes it is always disappointing but I posted this the other day, they had no option but to raise "Outgoings for this quarter are $690k, they had $259k in the bank and lets say they make $56k this quarter, so that shows a negative $375k" so even after the raise they will only have $189k.

NIU Price at posting: 0.5¢ Sentiment: Hold Disclosure: Held
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