AUL (ASX) Ann: Norton Gold Mine Joint Venture Executed

Originally posted by Kranky ↑

Hey V

It would be prudent to repeat:

"Providing they get the 1mn we will be mining within 3 months".

So it could be extrapolated that this placement is the key to whether IK can get Norton into production and that is MNM need to raise $1 mill plus to get this Co. moving towards revenue generation.

I suppose, whilst IK actually hasn't anned the above statement to the public and is via a 3rd party, this is probably one of the most crucial raising's to date.

If it is not supported and IK doesn't have the cash to get Norton into production...MNM will tinker along trying to make the dollars run as far as they will go until the next placement at whatever price possibly under 1c depending on news flow, etc. and we will be subject to certain posters ongoing gripes and complaints.

If SHs do support this raising and IK does have the cash to get the equipment to get Norton processing those stockpiles, then the next raising (if required) to progress Norton further should be based on results from current production figures re-evaluating the Co accordingly and hence a raising at a potentially higher SP accompanied by less gripes and complaints.

It is also good to note that the 2 largest SHs (whilst MB via a 3rd party comment) will be taking up their entitlements.

In short, whilst I appreciate everyone's personal view about whether to participate or not, my feeling is that this placement is paramount in moving MNM from explorer to producer which will bring lower risk and higher reward, MC re-rating, more market exposure and a possible new set of investors that only look into revenue producing and/or profit turning businesses...and that has to be good for anyone participating in this placement you would think....especially LTers that have supported MNM to date.

Cheers K

Expand

Just like to reaffirm what Kranky says,we are this close to having something that going to stop dilution/produce an income/meet admin costs.If CR isnt supported it will be rinse and repeat,I mentioned to JHSD at the time that it will almost a self fulfilling prophecy(wrong choice of words but hopefully you will understand me),,for example,IK doesnt raise enough money,bills keep coming in,SP goes down becuase not enough support,money doesnt last as long,along comes another CR same thing happens again.THAT SAID I am SKINT!!!!Hoping for a couple of plays to come off or the Samford facebook buyers(private joke with JHSD) start buying the crap I make!!!

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