I will be looking at the intended use of the funds. They will have to be very persuasive. My personal holding has a 77% capital loss and the little parcel my super fund bought is down 92.5%. I bought these shares when the company should have been making the transition to commercial operation, but it has consistently failed to gain traction in the market for nearly three years.
Admittedly they have been three very difficult years, and the company has been able to hold its ground and make minor progress over that time.
But I will want to see a very concrete and realistic plan to achieve commercial viability using the new funds they intend to raise.
NGS Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
