Ann: NTU - Retail Entitlement Offer Completed, page-3

As a result, a total of approximately $6,938,849 was received under the Entitlement Offer representing the maximum amount that could be raised.

The Company intends to use the funds raised under the Entitlement Offer and the placement announced on 6 June 2019 to:

(1) meet commitments to the Australian Taxation Office (ATO) in accordance with the in-principle agreement with the ATO regarding repayment of amounts owing as described in the ASX announcement dated 5 June 2019 (pending the outcome of the Company’s rights of review as described in the ASX announcement dated 17 May 2019);

(2) progress the Company’s enhancement initiatives at Browns Range, including further exploration, ore sorting and product separation; and

(3) provide general working capital.
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$6.9m raised less $3.4m for pork barrelling management remuneration - leaves about $3.5m towards objectives 1) & 2)

and the gravy train rolls on