Based on the end of March cashflow report, NKP had just over $2 million in cash, having spent $3m in the quarter. So it's fair to assume that the bank account is running pretty close to zero and needs topping up. There's a note under point 1.22 of the report which states "Does not include US$10m option fee from Xstrata due Q2 2010 and US$5m in receivables". The question is whether they have the certainty about the payment of the receivables or Xstrata coming to the party or need more time on either and therefore have to do a smallish capital raising. A very interesting time for the company because it might be a case of who blinks first !
NKP Price at posting:
61.0¢ Sentiment: LT Buy Disclosure: Held
