ok, all good. I can see how my comment was misunderstood, appreciate the civil reply.
To explain my comment I refer to the NME announcement 29 Sept:
Nex Metals Explorations Ltd (Nex or the Company) is pleased to advise that creditors and liabilities
amounting to $1,283,140.00 has been satisfied by the issue of shares in the Company at a deemed
issue price of $0.05 for total shares issued of 28,919,475.
This is a 42.86% premium to the closing price on 28 September 2022 of $0.035.
The creditors include legal and corporate advisors, other professional advisors with respect to the
recent takeover bid by Metalicity Ltd (ASX:MCT) and the application for forfeiture which is an
ongoing process in the Wardens Court and various other sundry creditors.
The Board considers this a significant vote of confidence and trust in the Company and a significant
improvement with respect to solvency and moving forward.
This then leaves few remaining creditors on the balance sheet besides directors and related entities.
So I read this to mean as their outstanding creditors have been now satisfied any funds received from a costs award would thereby go straight into the bank.
I agree with your comment about the 91M shares they hold. Very unusual.
all the best.
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ok, all good. I can see how my comment was misunderstood,...
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Mkt cap ! $17.32M |
Open | High | Low | Value | Volume |
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6 | 758195 | 0.026 |
7 | 887600 | 0.025 |
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3 | 122000 | 0.023 |
Price($) | Vol. | No. |
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