In response to your letter of 1 February 2016:
being.
- The Company expects to continue to have negative operating cash flows for the time
evaluation of its mineral interests. The Company is currently considering 3 options:
- The Company has taken steps to raise cash to fund its continued exploration and
In the first instance, the Company is currently engaged in confidential
discussions with an Asian based Investor Group regarding a cornerstone
investment to support project development. These discussions have been
protracted during the December and January holiday season. It is unknown how
long the negotiations and the respective due diligence may take.
Secondly, in terms of providing interim funding, the Company is in discussions
with various members of the Broking fraternity regarding the placement of
shares under the Company’s 15% capacity provided by rule 7.1,
If the negotiations under the previous points prove to be protracted, a number of
existing shareholders have indicated their interest in a small offering.
Notwithstanding that negotiations are continuing, the Company believes it will ultimately
be successful in raising funding required to progress it’s mineral interests in line with the
stated strategy.
19th January, the Company announced a high grade Maiden Resource at its 70%
- The Company expects to continue its operations and meet its business objectives. On
earning Lindi Graphite Project. The achievement of this stated objective represented an
increase in “cash–burn” rate which will now be relaxed.
further information about its financial condition that has not already been released to the
- The Company believes it is in compliance with Listing Rule 3.1 and that there is no
market.
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Ann: Response to Appendix 5B Query, page-3
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Change
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Mkt cap ! $70.48M |
Open | High | Low | Value | Volume |
11.0¢ | 11.0¢ | 10.5¢ | $17.10K | 156.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 129065 | 10.5¢ |
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Price($) | Vol. | No. |
---|---|---|
11.0¢ | 66431 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 129065 | 0.105 |
5 | 272516 | 0.100 |
1 | 50000 | 0.098 |
1 | 56330 | 0.096 |
5 | 127586 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 13765 | 1 |
0.115 | 383359 | 8 |
0.120 | 59905 | 2 |
0.125 | 265260 | 5 |
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