NXR nemex resources limited

I was there as I had time and wanted to meet the Directors. Very...

Currently unlisted. Proposed listing date: WITHDRAWN
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    I was there as I had time and wanted to meet the Directors. Very few people there, just two other shareholders from interstate. Surprising given the level of discontent and talk on HC. Those two shareholders do not even use HC so all that talk on here is just talk.

    The story is they will make a decision end of January with regards to what to do with Wavefront. I didn't quite hear properly but I believe Wavefront is doing internal modifications and by end of January the company will know better what they have and don't have and what NXR will do from there.

    To re-list NXR will need either 100% of Wavefront and recapitalise by raising $5m or RTO something else and recapitalise.

    Lack of funds seems to be a big problem and time is running out. NXR did approach the ASX regarding acquiring a lithium project but were knocked back, probably lack of funding.

    The feeling I got was Wavefront has a low chance of success and NXR is a shell looking for something else but it will be difficult to find something that can also attract the required funds to relist.
    Everyone who is asking should know end of January.
    Last edited by jazzmox: 13/11/17
 
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