Ann: NME - Change in substantial holding for NME, page-29

With all due respect and forgetting the acrimony between the 2 companies and their SHs the main concern for me if i was a NME SH is its financial position..forget all the other noise. No one can run away from the dire situation as NME's going concern basis of accounting is only supported by the goodwill of the directors.....thats a very short term fix as i am sure you know and the auditors will be very nervous with their opinion if there is no change to sustainable operations in 12 months.

Previous CR money has been used up and its unlikely that any independent financier will tip anymore money into NME given the commentary in the audited FS.

As such i ask the simple question is where is the money going to come from to fund the continued JV development/exploration, administrative costs, legal counsel etc. Reliant on the existing SHs to dig into their pockets again and again basically to fund legal counsel costs with the cloud of non compliance hanging over the company beggars belief.

I know where I would rather have my shareholdings if there were a choice between MCT and NME....what would be your choice given NME's money tree has shed all its green leaves and starting to wither and die !!