It’ the excuse / reason for with drawing the April request for in principle advice.
In June they said.....
“Winmar Resources Ltd (Winmar or the Company) (ASX Code: WFE) confirms that as a result of the Company’s ongoing advanced discussions with a number of parties in regards to cobalt offtake and associated debt funding, it has elected to withdraw the Application for In- Principle Advice”
In July they said....
“The decision not to proceed with Exploration Licenses acquisitions previously proposed, and the expected changes to the capital structure, amount and terms of any equity capital raising (if any), due to the underlying terms of expected cobalt offtake and financing (debt/equity) left the Company with no choice but to withdraw its April 2019 Application, which it did in late May 2019....”
Spot the difference(s)?
As for a consolidation, you will have to wait and see what happens next, if anything?
Ann: Quarterly Reports, page-88
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