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08:47
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Originally posted by sowens
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It baffles me why people think that NXE isnt going to survive if not prosper. The main argument is that they are broke and will go under but are they broke? In August they raised $2.4 mill in a placement. If you check out Fura on the web they are saying that they will pay $A3 mill up front for the rubies plus 12.7 mill Fura shares over time. Our new investor just stumped up $1.5 mill for NXE shares and $3.5 mill for 1/2 of our graphite project. Add that up and its $10.4 mill plus we have a promising Graphite deposit. OK some one has just hit us with a $5 mill bill but its not clear that we owe as much as that, the courts will decide. Plus when companies bring in new investors at a bargain price they often offer previous holders shares at a comparable price so this may also raise some money and raise money they will have to to get this graphite thing done.
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The question is also over the $10M needed for the first project. The company has diluted the existing assets for shareholders rightly or wrongly and effectively lost Arena so many people haven’t the confidence in the current BOD to deliver on projects
