They had over 10m at last quarter. A further capital raising must be Napean Nickle related.
From the chairmans address -
As a result of shaft refurbishment, our personnel have gained access to levels 2, 4, 5, 6, 7, 8, 9 and 10 of the mine, and inspected all of the accessible levels and ore blocks to 10 level.
Significant changes to mining technology since the Nepean mine was closed, has given the Company a positive view towards recommencing mining with a combination of open cut mining to Level 3 and underground thereafter.
A mining strategy is currently being evaluated with a view to recommencing mining under the Focus Minerals banner in Quarter 1, 2008.
As a result, 2008 is shaping as a watershed year and an exciting one for the Company.
They had over 10m at last quarter. A further capital raising...
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